The eagerly awaited U.S. Consumer Price Index data sparked discussions regarding its impact on global markets, including the cryptocurrency sector.

Details of the U.S. CPI Data

The CPI data for September came in at 2.4% year-on-year, surpassing the expected 2.3%. Last year's figure was 2.5%, indicating continued inflationary pressures. The monthly CPI was recorded at 0.2%, higher than the anticipated 0.1%. Additionally, the core CPI was reported at 3.3% annually, exceeding the forecast of 3.2%. These data highlight inflation trends excluding volatile components like energy and food.

Possible Effects on the Cryptocurrency Market

The released CPI and core CPI figures echoed through the cryptocurrency market. Inflation data exceeding expectations strengthens the belief that the U.S. Federal Reserve may proceed cautiously with interest rate cuts. This situation may create a negative sentiment towards cryptocurrencies, particularly reducing demand for riskier assets like Bitcoin.

Expectations for the Producer Price Index

Following the CPI data release, attention has turned to the Producer Price Index (PPI) data expected tomorrow. This inflation indicator is scheduled for disclosure at 15:30 Turkish time.

The U.S. Consumer Price Index data attracted the attention of global and crypto markets, indicating ongoing inflation and posing questions about future monetary policies.