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\n\t\t\t\t\t\t\t\t\tBTC’s price was already under pressure ahead of the key announcement.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
In an unprecedented announcement from the Labor Department\u2019s Bureau of Labor Statistics, the official Consumer Price Index numbers for October exceeded expectations. The actual data showed a 0.4% increase in the headline CPI and 0.3% in the Core CPI, which excludes energy and food.<\/p>\n
Before today\u2019s release, experts speculated that the October reading would show a 0.3% month-over-month increase, while Core CPI was expected at 0.2%. What was particularly interesting about today\u2019s announcement is that it came without year-over-year numbers, as the BLS said that missing data from the October 2025 government shutdown \u201cprevents reliable annual comparison.\u201d<\/p>\n
\n\u201cWhat you will see in \u200bthe data is further evidence of stubborn and sticky inflation, especially in the service sector,\u201d said<\/a> Joseph Brusuelas, chief economist at RSM, before the reading went live. \u201cThat will result in a December \u200brate hike, and I do not expect the October CPI data to dislodge the Fed from that monetary path.\u201d<\/p>\n<\/blockquote>\n
Recall that the September CPI data showed a major uptick of 3.7% YoY, which was slightly higher than the estimated 3.6%. BTC reacted<\/a> at the time with an immediate nosedive as expectations for a Fed rate hike rose but didn\u2019t materialize in October.<\/p>\n
The current reaction has been equally volatile, and odds of the US central bank raising rates at the last FOMC meeting of the year are well above 90%.<\/p>\n
The cryptocurrency\u2019s price was already struggling to remain above $74,000, but the reading pushed it well below that level as it currently sits at multi-month levels at $73,600.<\/p>\n
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