Analyst: Inflation pressures bitcoin, but money expansion backs long-term holding case
- —US September CPI: +0.6% m/m and +3.7% y/y, above the 3.6% forecast
- —Core inflation: +0.3% m/m and +2.6% y/y
- —Gasoline prices up 9.1% accounted for over half of the monthly index gain
- —Market priced a 63% chance of a Fed pause in October and 38% odds of a 25bp hike
Why it matters: Hot inflation revives the prospect of a Fed rate hike, pressuring BTC near term while reinforcing the fiat-debasement argument for long-term holders.
Source: TokenPost