Yesterday's October CPI figures were even worse than expected! A Fed rate hike in December is almost a certainty! 1. The CPI rose 0.4% month-on-month, and the core CPI rose 0.3%, both 0.1% higher than expected. The core CPI has been at 0.3% for three consecutive months. 2. Just hours before the data release, Fed Governor Waller stated that if the core CPI rose above 0.3%, a 50 basis point rate hike should be considered in December. After the data release, the probability of a 50 basis point rate hike in December rose from 1.1% to around 15% on FedWatch, while the probability of no rate hike was 0%. The 10-year Treasury yield rose to around 4.95% at one point. 3. BTC fell below 74,000, reaching a low of around 72,800 in the early morning. Over $600 million in liquidations were recorded across the network in 24 hours, including over $500 million in long positions. ETH fell to around 2050, and SOL was around 83. The biggest difference this time is that previously it only priced in the rate without raising the interest rate and raised the rate by 25 basis points, but now it priced in the rate increase and raises the rate by 25 basis points or 50 basis points.