The latest U.S. CPI data showed that the inflation rate reached 2.4% in September, exceeding market expectations and triggering concerns that the price of Bitcoin would fall to $60,000.

The latest US Consumer Price Index (CPI) data showed that the inflation rate remained at 0.2% in September, higher than market expectations. It is worth noting that the higher-than-expected inflation level has triggered market concerns, which may soon cause the price of Bitcoin to fall below $60,000. In addition, after the dismal US employment data, this development has consolidated bets that the Federal Reserve may take a hawkish stance at the upcoming meeting.

The US CPI fell to 2.4% in September.

According to the latest data from the U.S. Department of Labor, the U.S. CPI rose 0.2% month-on-month, the same level as in August and July. Year-on-year, the inflation rate fell to 2.4% in September, lower than 2.5% in the previous month and higher than the market expectation of 2.3%. However, despite the better-than-expected data, the year-on-year increase in September was the smallest since February 2021.


Meanwhile, the core CPI rose 0.3% last month, unchanged from the previous month. Meanwhile, on a 12-month basis, the core CPI, which excludes food and energy prices, rose to 3.3% from 3.2% last month.