The US Consumer Price Index rose 0.4% in October, compared with the 0.3% economists expected, while core prices excluding food and energy increased 0.3%. The higher-than-expected result strengthened expectations for a more restrictive Federal Reserve policy. For Bitcoin, the impact operates mainly through interest rates, the dollar, liquidity and risk appetite. Rising Treasury yields can weigh on assets without contractual income, including Bitcoin, and make leveraged positions more difficult to finance. Next employment and inflation releases, Federal Reserve commentary and Treasury yield movements will determine whether the pressure persists.
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