7/102 sources · 2 publishersUpdated Nov 10, 17:26 UTC
US October CPI rise pushes Bitcoin and gold lower as markets price a December Fed hike
The U.S. Consumer Price Index rose 0.4% month‑over‑month in October, beating the 0.3% forecast. The higher reading kept markets pricing an 87% chance of a Federal Reserve rate increase to the 4.00‑4.25% range in December. Bitcoin slipped to about $74,000 and gold fell near $4,050, both trading below key exponential moving averages.
Why it matters
Traders holding BTC‑USD or XAU‑USD may see continued downside pressure until the assets break the listed resistance levels. The priced‑in Fed hike suggests tighter monetary conditions that could further weigh on risk assets.
Key facts
- 1U.S. CPI increased 0.4% month‑over‑month in October, above the 0.3% market expectation. tmgm.com
- 2Core CPI rose 0.3% in October, matching September and beating the 0.2% forecast. fxstreet.com
- 3The CME FedWatch Tool shows an 87% probability of a December Fed rate hike to the 4.00‑4.25% range. tmgm.com
- 4Bitcoin was trading at $74,051, below the 200‑day EMA of $76,460 and other key EMAs. tmgm.com
- 5Gold was trading at $4,055, below the 50‑day EMA of $4,150 and other major EMAs. fxstreet.com
- 6Joel Kruger, Global Markets Strategist at LMAX Group, said markets already price in a December Fed hike, limiting further hawkish repricing. fxstreet.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.