U.S. September CPI Beats Forecasts, Bitcoin Slides

The US Consumer Price Index (CPI) for September rose 0.4%, surpassing expectations, while the core CPI, which excludes food and energy costs, increased by 0.3%. Year-over-year, the CPI rose 3.7% and the core CPI was at 4.1%. Following the release of the CPI data, the price of Bitcoin slipped further, down 1.2% to $26,770. The minutes from the Federal Reserve's recent meeting indicated a likelihood of one more rate hike before ending the monetary tightening cycle, with traders expecting a 10% chance of a rate hike in November and 30% by year-end.