First Mover Americas: Bitcoin Falls to $18.1K After CPI Data

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Price Point

Bitcoin (BTC) dropped to as low as $18,183 after the Consumer Price Index (CPI) data was released on Thursday. The Labor Department reported consumer prices in September rose 8.2% from the same month last year and 0.4% from August.

U.S. consumer prices advanced to a 40-year high in September. Bitcoin was recently down 3.8% on the day.

Prior to the release, bitcoin fell quickly by $500 in 30 minutes to about $18,575, right around 6:30 a.m. ET (10:30 UTC).

Futures on the S&P 500 wiped a 1% gain and slid more than 2% after CPI data showed consumer prices surged last month. The dollar rallied.

CoinDesk Market Index

Sector classifications are provided via the Digital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. The CoinDesk Market Index (CMI) is a broad-based index designed to measure the market capitalization weighted performance of the digital asset market subject to minimum trading and exchange eligibility requirements.

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