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.
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Trump may pursue Bitcoin buys for the U.S. reserve, but legal hurdles, custody issues and political opposition could delay expansion.
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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.
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.
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.
Mike McGlone says Bitcoin’s “glory days are over,” while Kyle Reidhead sees resilience and an early-stage bull market.