{"id":87033,"date":"2023-11-14T18:36:23","date_gmt":"2023-11-14T16:36:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=87033"},"modified":"2025-09-13T09:17:30","modified_gmt":"2025-09-13T06:17:30","slug":"us-inflation-slows-bitcoin-fails-to-react-to-macro-data","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-inflation-slows-bitcoin-fails-to-react-to-macro-data\/","title":{"rendered":"US inflation slows; Bitcoin fails to react to macro data"},"content":{"rendered":"<p>Year-over-year inflation in the United States for October <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">\u0437\u0430\u043c\u0435\u0434\u043b\u0438\u043b\u0430\u0441\u044c \u0434\u043e 3,2%<\/a>, below the consensus forecast (3.3%). This is the first decline in the indicator <a href=\"https:\/\/tradingeconomics.com\/united-states\/inflation-cpi\" title=\"\u0437\u0430 \u0447\u0435\u0442\u044b\u0440\u0435 \u043c\u0435\u0441\u044f\u0446\u0430\">\u0437\u0430 \u0447\u0435\u0442\u044b\u0440\u0435 \u043c\u0435\u0441\u044f\u0446\u0430<\/a>.<\/p>\n<p>The corresponding reading for September stood at 3.7%.<\/p>\n<p>On a monthly basis, the Consumer Price Index was unchanged after a 0.4% jump in the prior month. According to the U.S. Bureau of Labor Statistics, October&#8217;s rise in housing costs was offset by a 5.3% drop in gasoline prices.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cOverall, inflation proved softer than expected,\u201d said Kaiko researcher Desislava Ober in <a href=\"https:\/\/decrypt.co\/205966\/ethereum-and-bitcoin-hold-steady-as-us-inflation-cools-to-3-2\">a conversation with Decrypt<\/a>. \u2014 And this is fairly good news for risk assets, since <span data-descr=\"Federal Reserve System of the United States\" class=\"old_tooltip\">\u0424\u0420\u0421<\/span> has stopped raising rates.\u201d<br \/><\/cite><\/p><\/blockquote>\n<p>MN Trading founder Micha\u00ebl van de Poppe is likewise confident that the regulator is moving toward a less hawkish monetary policy.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: CPI hitting 3.2%, while 3.3% expected.<\/p>\n<p>The FED hiking policy is coming to an end.<\/p>\n<p>CPI comes in lower than expected, where M\/M is at 0.0%. <\/p>\n<p>Markets trend higher again, dips are still for buying. Also on <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>.<\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1724420326082097533?ref_src=twsrc%5Etfw\">November 14, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cMarkets are moving higher again. Dips remain attractive for buying,\u201d the analyst said.<\/cite><\/p><\/blockquote>\n<p>At the time of writing, Bitcoin and Ethereum were trading at around $36,630 and $2,050 respectively (according to <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>), having shown no reaction to the U.S. macro data.<\/p>\n<p>The Fed had been aggressively raising rates for more than a year to curb inflation, which in June last year peaked at a 40-year high of 9.1%.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Inflation-Rate.webp\" alt=\"Inflation-Rate\" class=\"wp-image-220027\"\/><figcaption class=\"wp-element-caption\">US inflation trend. Data: <a href=\"https:\/\/tradingeconomics.com\/united-states\/inflation-cpi#:~:text=November%20of%202023.-,Inflation%20Rate%20in%20the%20United%20States%20decreased%20to%203.20%20percent,macro%20models%20and%20analysts%20expectations.\">Trading Economics<\/a>.<\/figcaption><\/figure>\n<p>The regulator has partly managed to stabilise the macroeconomic indicator. However, inflation remains above the Federal Reserve&#8217;s 2% annual target. On 1 November, the Federal Reserve System <a href=\"https:\/\/u1f987.com\/en\/news\/fed-holds-key-rate-bitcoin-reacts-tepidly\">kept<\/a> the target range for the federal funds rate at 5.25-5.5% per annum.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Year-over-year inflation in the United States for October slowed to 3.2%, below the consensus forecast of 3.3%. This is the first decline in the metric in four months.<\/p>\n","protected":false},"author":1,"featured_media":87034,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1249,1224],"class_list":["post-87033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-federal-reserve-system","tag-macroeconomics"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=87033"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87033\/revisions"}],"predecessor-version":[{"id":87035,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87033\/revisions\/87035"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/87034"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=87033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=87033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=87033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}