đšđš U.S. Inflation Drops to 2.4%! Bitcoin Dips Below $61K
The U.S. Bureau of Labor Statistics has just released the Consumer Price Index (CPI) data for September, and itâs showing inflation cooling down to 2.4%! While the forecast had been 2.3%, this slight miss still signals that inflation is easing up, leading to potential changes in the financial markets.
đ» Bitcoin Reacts with a Minor Dip
Following this CPI update, Bitcoin saw a small dip, slipping below $61,000. Despite the positive inflation trend, the crypto market remains cautious, with investors awaiting more clarity.
đ CPI Continues Cooling Trend
Septemberâs 2.4% inflation rate represents the sixth straight month of decline, down from 2.5% in August and 2.9% in July. This steady drop in inflation shows a positive cooling trend in the financial sector, bringing hopes of further stability.
đ Core CPI Misses Expectations
While inflation dipped, Core CPI (which excludes food and energy) rose slightly to 3.3%, missing the forecasted 3.2%. Experts suggest this miss could still lead to a rate cut in October, offering relief to consumers and investors alike.
đ Whatâs Next for the Market?
With inflation easing and Bitcoin seeing a minor reaction, the crypto and financial markets are closely watching the Federal Reserveâs next move. Could this cooling inflation signal a bullish rally ahead for crypto? Time will tell!
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