Bitcoin Falls as Hot Inflation Puts a Fed Hike Back on the Table

Bitcoin fell 1.5% to $82,142 on Wednesday after U.S. inflation came in hotter than expected, dragging most of the crypto market down with it. Ethereum dropped 2.8% to $2,440, Solana lost 1.9% and XRP slid 1.3%, while total crypto market cap shed 0.7% to $2.8 trillion. The Consumer Price Index rose 0.6% in September and 3.7% over the past year, up from 3.4% in August, per the Bureau of Labor Statistics . Economists expected 3.6%. Gasoline prices jumped 9.1% in a single month and accounted for more than half of the increase.

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