US October CPI Higher Than Expected, BTC Falls Below $74,000 Data from the US Bureau of Labor Statistics showed that the October CPI rose 0.4% month-over-month, and the core CPI rose 0.3% month-over-month, both 0.1 percentage points higher than market expectations. Energy prices rose 0.7%, and gasoline prices rose 1.0%. The higher-than-expected inflation further strengthened the case for the Federal Reserve to continue raising interest rates. After the data release, the market is still 100% betting on a Fed rate hike in December. BTC immediately fell below $74,000, trading at $73,982 on OKX, down about 2% on the day. https://(x.com)/CryptooIndia/status/2120149725924254192/photo/1