tl;dr
The latest US Consumer Price Index (CPI) data showed that inflation stayed at 0.2% in September, exceeding market expectations. This has sparked concerns over a potential Bitcoin price dip to below $60,000. The US CPI cooled to 2.4% in September, down from the previous month's 2.5% but surpassed the...
The latest US Consumer Price Index (CPI) data showed that inflation stayed at 0.2% in September, exceeding market expectations. This has sparked concerns over a potential Bitcoin price dip to below $60,000. The US CPI cooled to 2.4% in September, down from the previous month's 2.5% but surpassed the market's expected 2.3%. The hotter-than-anticipated inflation data has also fueled discussions about its potential impact on Bitcoin price and other cryptocurrencies. Following the release of the US CPI, Bitcoin price was down 1.3%, sparking broader concerns in the crypto market. Additionally, there is anticipation of an 84% probability of a 25 basis points Fed rate cut at the central bank’s November meeting, which has further fueled investors’ concerns.
The latest US CPI data showed that the inflation has come in at 2.4% in September, exceeding market expectations and sparking concerns over Bitcoin price dip to $60K. The higher-than-anticipated inflation level is likely to send Bitcoin price below $60K soon. Besides, after the gloomy US Job data, there are cemented bets over a potential hawkish stance by the Federal Reserve at their upcoming meeting.
According to the latest Labor Department data, the US CPI came in at 0.2% on a monthly basis, unchanged from the August and July levels. On a yearly basis, the inflation has cooled to 2.4% in September, down from 2.5% noted last month and up from the market expectations of 2.3%. However, despite the hotter-than-anticipated figures, the yearly surge in September marks the smallest gain since February 2021. Simultaneously, the Core CPI rose 0.3% in the prior month, noting no change from the last month’s number. Simultaneously, on a 12-month basis, the Core CPI, which excludes food and energy prices, rises to 3.3% from 3.2% in the prior month.
After the US CPI release, BTC price was down 1.3% and may dip to $60K soon. The latest hotter-than-anticipated inflation data appears to have weighed on the investors’ sentiment, as evidenced by a broader crypto market selloff. Additionally, the market is now anticipating an 84% probability of a 25 bps Fed rate cut at the central bank’s November meeting, fueling investors’ concerns. The latest inflation data has also sent the US 10-year Bond Yield high to 4.073. On the other hand, the US Dollar Index fell 0.10% to $102.595.
More about Banco De Chile
Banco De Chile, Banco de Chile, provides banking and financial products and services to clients in Chile. The company is headquartered in Santiago, Chile.
Industry: FINANCE, COMMERCIAL BANKS
NEC: 12207905000
Open: 8.08
Close: 8.08
Change: 2.99
Volume: 5702.8
Dividend: 0.485
Market Cap: 2880381125000
PE Ratio: 25.65
EPS: -0.027
ROI: -0.007
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More about General Dynamics Corporation
General Dynamics Corporation Summary
General Dynamics Corporation (GD) is an American aerospace and defense corporation. It is headquartered in Reston, Fairfax County, Virginia.
Sector: Manufacturing
Industry: Ship & Boat Building & Repairing
Market Cap: $82.07 billion
P/E Ratio: 23.28
EPS: 5.48
Dividend (Yield): 12.83 (2.48%)
Stock Price: $164.48
Beta: 0.0789
Revenue: $44.95 billion
Operating Margin: 324.11
Return on Equity: 20.7%
Debt to Equity: 0.18