Bitcoin faces elevated CPI with BTC price tackling $26.8K focal point

” The all products index increased 3.7 percent for the 12 months ending September, the exact same boost as the 12 months ending in August,” an official press release from the U.S. Bureau of Labor Statistics confirmed. “The all items less food and energy index rose 4.1 percent over the last 12 months. The energy index decreased 0.5 percent for the 12 months ending September, and the food index increased 3.7 percent over the last year.

Bid liquidity laddered down to the LL at $24,7502. Purple Whales have been selling pic.twitter.com/4cant18F4o— Material Indicators (@MI_Algos) October 12, 2023

“Its been a while because weve gone over whether good = great or good = bad for BTC price,” co-founder Keith Alan included in commentary on the macro element ahead of CPI.”Continuing, trading firm QCP Capital described “unabated” downhill trajectory on Bitcoin and biggest altcoin Ether (ETH) coming regardless of different prospective bullish elements in Q4.”Hopefully the relative underperformance of BTC and ETH to the upside now likewise indicate their beta is lower to the drawback as well, must CPI come in more powerful than anticipated,” it wrote in a market upgrade earlier on the day.

Bitcoin (BTC) is clinging to the essential $26,800 mark prior to the Oct. 12 Wall Street open as United States inflation information continued to beat expectations.BTC/ USD 1-hour chart.” The all products index increased 3.7 percent for the 12 months ending September, the exact same boost as the 12 months ending in August,” a main press release from the U.S. Bureau of Labor Statistics validated. “The all items less food and energy index rose 4.1 percent over the last 12 months. The energy index reduced 0.5 percent for the 12 months ending September, and the food index increased 3.7 percent over the last year.