Bitcoin Falls Below $82K as Oil Prices Fuel US Inflation

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Bitcoin fell below $82,000 while bond yields targeted new 24-year highs on the back of hot US CPI inflation.

Bitcoin (BTC) fell below $82,000 after Wednesday’s Wall Street open as US consumer inflation beat expectations.

Bitcoin dropped to $81,926 on Bitstamp after US September CPI inflation came in at 3.7% versus expectations of 3.6%.

Fuel-price increases accounted for the lion’s share of the gain at 9.1% year-on-year.

US bond yields spiked on the news, while gold fell to $4,079 per ounce.

Bitcoin slips under $82,000 on higher US CPI print

At 3.7% year-on-year, this came in 0.1% above majority market consensus, data from the Bureau of Labor Statistics (BLS) confirmed. The increase in fuel prices around the Middle East conflict and oil-supply crisis was conspicuous.

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