U.S. September CPI rises to 3.7%, hitting a new high since May; rate hike expectations heat up, BTC drops below $83,000 Inflation is rebounding, reinforcing rate hike expectations. The U.S. September unadjusted CPI year-over-year rose to 3.7%, higher than the expected 3.6%, marking the highest level since May. Core CPI year-over-year climbed to 2.6%, exceeding the forecast of 2.5%, the highest since June. According to Cailian Press, traders have increased their bets on a rate hike in October and are predicting three more rate hikes by the end of 2027. New York Fed President Williams also stated on Tuesday that another rate hike this year is still appropriate. As the data was released, BTC fell below $83,000, and ETH dropped below $2,500, down 0.6% and 0.7% respectively for the day. This suggests that high interest rates may continue to weigh on risk assets.