The US Consumer Price Index (CPI) rose 0.6% month-over-month in September, surpassing August's 0.4% and matching economist forecasts. Year-over-year, CPI increased 3.7%, above the 3.4% in August and estimates of 3.6%. Core CPI also exceeded forecasts, rising 0.3% month-over-month and 2.6% year-over-year.
Following the hotter-than-expected inflation data, Bitcoin dropped $1,000 to trade around $82,800. The news could bring multiple Federal Reserve rate hikes back into consideration.
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US September CPI exceeds expectations, pushing Bitcoin sharply lower
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