Bitcoin faces an $8,000 trading trap as US midterms approach
Two hot inflation reports in two days resulted in Bitcoin falling below $80,000 on Oct. 15. September CPI accelerated to 3.7% from 3.4%, and producer prices jumped 1.3% on the month, the largest rise since March 2022 and more than double the forecast in most surveys. Can-Luca Köymen, investment strategist at Sygnum, said in a… Read the full story on CryptoSlate Understand the crypto stories that…
Bitcoin fell below $80,000 on Oct. 15 after two hot inflation reports in two days. September CPI accelerated to 3.7% from 3.4%, while producer prices jumped 1.3% on the month, the largest rise since March 2022 and more than double most forecasts. Traders care because sticky inflation reduces the odds of near-term Fed rate cuts, pressuring risk assets like crypto, with the US midterms adding further macro uncertainty.
