BNY Mellon Names XRP in Corporate Payments Roadmap, Stablecoin Report Shows

Bitcoin fell to $81,500 after September's CPI report showed a 0.6% monthly increase and 3.7% annual rise, per the Bureau of Labor Statistics. The dollar strengthened, and Fed rate hike expectations grew, impacting crypto markets. Analyst sentiment shifted positively, but inflation and energy costs remain challenges, according to Bitwise Asset Management and Wincent.

Bitcoin, Ethereum, XRP, and Dogecoin each fell over 2% in 24 hours, with Bitcoin near $81,500. Hotter-than-expected CPI data fueled expectations of further Fed rate hikes. Coinglass reported $331.89 million in liquidations, while SoSoValue noted $175.6 million in Bitcoin ETF inflows and $24.84 million in Ethereum ETF inflows. Analysts discussed potential price movements and support levels for Bitcoin.

Bitcoin fell below $82,000 after U.S. inflation data showed a higher-than-expected annual increase to 3.7%, raising concerns about potential Federal Reserve rate hikes. Ether and XRP also declined, with crypto-linked stocks like Robinhood Markets (HOOD) down 3.27%.

Shares of SoFi, BNY Mellon, Bread Financial, Perella Weinberg, and Morgan Stanley fell after September consumer price inflation data showed a 3.7% annual increase, raising Fed rate hike concerns. SoFi dropped 6.9%, BNY Mellon 3%, Bread Financial 3%, Perella Weinberg 4.2%, and Morgan Stanley 3.3%. SoFi reported Q1 revenue of $1.1B, up 42.8% YoY, but guidance missed estimates, leading to a 13.5% drop six months ago.

Bitcoin fell below $82,000, down 2%, after September's core CPI data showed higher-than-expected inflation, renewing Fed rate hike concerns. Analysts note this could pressure risk assets like BTC through higher Treasury yields and a stronger U.S. dollar. Ethereum, XRP, and Solana also dropped nearly 3%. Analysts have mixed near-term price predictions for BTC, ranging from $75,000 to $90,000.

Major cryptocurrencies fell after U.S. inflation data exceeded expectations, with Bitcoin down 1.8% to $82,000 and Ethereum down 2.8% to $2,440. The total crypto market cap slipped 2.18% to $2.74 trillion. Higher inflation may complicate the Fed's efforts to control prices, potentially impacting risk assets like Bitcoin.