Bitcoin (BTC) crashed below $22,000 instantly on Sept. 13 after United States inflation data failed to meet estimates.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewCPI print sparks major crypto rout
Trending: Mortgage Rates Near An Astonishing 7%
The consensus was that 8.1% would be the latest figure, and the overshoot suggested that inflation was not slowing at the expected pace.
US CPI for August YoY coming in above expectations at 8.3% (expected 8.1%) but lower than in July with 8.5%.
MoM core CPI coming in hot at
0.6% twice as high as the expected 0.3%.
Not what the Fed wants to see.
So 75bps it is at the next meeting?
— Jan Wüstenfeld (@JanWues) September 13,