U.S. Inflation and Nominal Retail Sales Weigh on Bitcoin (BTC)

Bitcoin (BTC) fell this week as firmer U.S. inflation and spending data prompted traders to reassess the Federal Reserve's rate path. Global digital asset investment products recorded $434 million in outflows as traders reassessed the Fed's rate path. The Consumer Price Index rose 0.6% in September from the prior month and 3.7% from a year earlier, above the 3.6% consensus. Core inflation, excluding food and energy, increased 0.3% monthly and 2.6% annually. Gasoline prices climbed 9.1%, accounting for around half of the monthly rise in the overall index. Retail sales increased 0.8% in September, after the August gain was revised to 1.3%. Gas station sales rose 6.4%. Excluding gasoline, retail sales grew 0.2%, compared with 1.0% in August.

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