Hotter-Than-Expected Inflation Hits Bitcoin and Stocks

Bitcoin and equity futures dropped sharply after the September CPI print. The cryptocurrency slid from roughly 83,800 to 82,800 dollars within minutes, while Nasdaq-100 futures fell 0.6 percent and S&P 500 futures lost 0.3 percent.

Gasoline prices drove the surprise. They jumped 9.1 percent in a single month and 34.2 percent year-over-year, pushing headline CPI to 3.7 percent from 3.4 percent in August. Core inflation also beat forecasts, rising 0.3 percent month-on-month and 2.6 percent annually.

Traders quickly priced in a more hawkish Fed. Two-year Treasury yields climbed toward 4.91 percent, and the odds of another quarter-point rate hike by late October reached 44 percent on Polymarket. Bitcoin bulls now watch the 81,000–82,000 support zone.

Based on information from cryptonews.net