US inflation cools down with Bitcoin reacting mildly to new CPI data Quick Take
The recently released U.S. inflation data portrays a compelling story. The headline inflation Year-over-Year (YoY) for October was expected to be 3.3%, while it actually recorded a slightly slower pace at 3.2%, down from September’s 3.7%.
Similarly, the core inflation YoY, a measure excluding volatile food and energy prices, also displayed a downtrend. Expected at 4.1%, it arrived at 4%, a minor increase from September’s 4.1%. This lower-than-anticipated inflation data suggests a slight cooling off in the inflationary pressures, which have been a significant concern for the U.S. economy.
Interestingly, concurrently with the CPI release, Bitcoin experienced a minor flux. The cryptocurrency, known for its volatility, was valued at $36,300 before the CPI data was made public and climbed slightly to $36,600 after that.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
