CPI Inflation Beats Projections, Bitcoin Holds at $74,000 as ETH, XRP Stay Flat
Bitcoin, Ethereum and XRP slide as hotter October inflation strengthens the case for another Fed rate hike.
Crypto · News reference
Avalanche rallied on Monday, November 9, after the New York Stock Exchange announced it would use the network to settle tokenized stocks on its upcoming 24/7 trading platform.
Reference Details
Poisar stores the source's headline, summary and market tags for reference. Reporting and full article text remain with the original publisher.
Keep reading
Bitcoin, Ethereum and XRP slide as hotter October inflation strengthens the case for another Fed rate hike.
October CPI rose 0.4% month over month and core CPI 0.3%, both above forecasts, as markets price a 99% chance of a Fed rate hike at the Dec. 9 meeting.
Trump may pursue Bitcoin buys for the U.S. reserve, but legal hurdles, custody issues and political opposition could delay expansion.
U.S. futures were mixed as Dow and S&P rose, Nasdaq fell. Trump cited Iran peace progress; markets see 82.2% odds of a December Fed hike.
Mike McGlone says Bitcoin’s “glory days are over,” while Kyle Reidhead sees resilience and an early-stage bull market.