First Mover Americas: Bitcoin Falls to $18.1K After CPI Data
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
|STEPN||GMT||-13.61%||Culture & Entertainment|
|Chiliz||CHZ||-11.87%||Culture & Entertainment|
|Kyber Network Crystal||KNC||-11.82%||DeFi|
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Crypto Volatility Meltdown Continues
By Omkar Godbole
- "The volatility index shows pressure is building up," Decentral researcher Lewis Harland said. " The more it builds, the more it needs to be released and reset (either direction)."