Bitcoin price sheds $1K in 3 minutes as US CPI inflation overshoots

Bitcoin price sheds $1K in 3 minutes as US CPI inflation overshoots


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

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD swiftly falling $1,000 after Consumer Price Index (CPI) inflation for August came in at 8.3% year-on-year.

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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,

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