⏬Bitcoin falls after CPI report, but analysts expect the Fed not to raise ratesBitcoin and the cryptocurrency market in general experienced a drop after the publication of the latest US Consumer Price Index (CPI) report. , which indicated a slowdown in inflation.

The Bureau of Labor Statistics (BLS) recorded a 0.4% increase in the CPI last month, primarily in the shelter segment, compared to a 0.6% increase in August. However, the CPI remained at 3.7%, above the 3.6% expected.

Bitcoin saw a 1.3% drop following the release of the CPI figures, and is currently trading at $26,787. Ethereum, the second largest cryptocurrency, fell as much as 2.9% and is now trading at $1,541.

Analysts suggest that the market is adjusting to the expectation of sustained inflation and anticipate that the Federal Reserve will not raise rates at the next FOMC meeting. According to FedWatch, the odds of no rate changes are 90.2%.$BTC $ETH