Against the backdrop of investor expectations about the results of a new US Federal Bureau of Labor Statistics (BLS) report, Bitcoin quotes have failed the $ 19,000 level, testing the range below $ 18,600.
At the time of writing, the asset is trading close to $ 18,695.
According to CoinGecko, on the last day, the price of bitcoin fell by 2.6%. The rest of the top 10 digital assets by market cap also ended up in the red zone. The worst were Cardano (-9.7%), Solana (-7.8%) and XRP (-7.7%).
October 13th at 3:30 pm (Kiev / Moscow time) BLS will publish the value of the consumer price index (CPI). Consensus forecast for US inflation by respondents Bloomberg analysts hypothesize an 8.1% slowdown in the indicator in annual terms.
BLS published US inflation data. The CPI for September was 8.2% (previously 8.3%). Core inflation rose to 6.6% for the month (previously 6.3%), the highest level since 1982.
Bitcoin reacted by dropping below the $ 18,200 level. At the time of writing, the asset is trading near the $ 18,320 mark.
According to ECM Groupthe futures market estimates the likelihood of a rise in the key rate Powered at the meeting of November 2 immediately at 75 bn more than 90%.
Specialists from trading company QCP Capital noted that bitcoin prices fell by an average of 4% within 30 minutes of the CPI’s release, if the index turned out to be higher than expected.
Conversely, when the indicator was below the consensus forecast, the asset price increased by an average of 2%.
5 / Conversely, when CPI was below consensus, BTC gained an average of 2%, even in August, when it posted a 4% rise on a weaker-than-expected reading (Graph 3).
– QCP capital (@QCPCapital) October 13, 2022
Recall, October 7 after the release of the US unemployment report the price of bitcoin falls below $ 20,000.
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