Share this article
U.S. September CPI Rises 0.4%, Outpacing Forecasts; Bitcoin Slips Further
The year-over-year pace of inflation was 3.7%, also faster than economist expectations.
Updated Oct 12, 2023, 12:48 p.m. Published Oct 12, 2023, 12:39 p.m.
Make us preferred on Google
The Consumer Price Index (CPI) for September rose 0.4% versus economist estimates of 0.3% and the previous month's 0.6%. On a year-over-year basis in September, the CPI rose 3.7% versus forecasts of 3.6% and August's 3.7%
The core CPI – which strips out food and energy costs and which has been more stubborn in coming down than the headline rate – rose 0.3% in September against estimates of 0.3% and 0.3% the previous month. Year-over-year core CPI was 4.1% versus 4.1% forecast and 4.3% in August.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The price of bitcoin [BTC] added to early losses following the news, now down 1.2% to $26,770.
Released yesterday afternoon, the minutes of the most recent meeting of the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) suggested policymakers were mostly in agreement that they would likely need to hike rates one more time before ending the monetary tightening cycle.
Currently, rate traders are expecting just about a 10% chance that rate hike could come at the Fed's November meeting, but the odds go up to 30% by year-end, according to the CME's FedWatch.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Michael Saylor's Strategy catches a break from MSCI, but analysts caution fight isn’t over yet
MSCI won’t drop firms like Strategy from indexes yet, but a broader rule change may still be on the table
What to know:
- Shares of Strategy rose 6% after MSCI decided not to exclude digital asset treasury firms from its indexes.
- The decision alleviates immediate pressure on companies holding large amounts of bitcoin but not directly operating in the blockchain sector.
- Analysts caution that the situation may not be resolved, as future MSCI rule changes could still impact firms like Strategy.
Top Stories
