Why is crypto down? Inflation concerns mount as market value slips below $2.4T

Crypto remained under pressure on October 15, with the market’s value excluding stablecoins falling below $2.4 trillion. Meanwhile, fresh U.S. producer-price data showed the biggest monthly increase since March 2022. The new report gives traders another inflation concern after September’s consumer-price figures. For crypto investors, when price keeps increasing, it complicates hopes for lower interest rates. Fresh inflation data gives investors little relief Producers paid 1.3% more for their expenses in September after rising 0.5% in August, the U.S. Bureau of Labour Statistics reported this week, pushing prices 6.3% higher in the last 12 months. The price of the goods also rose due to the effect of energy. Gasoline went up by 20.3%. The price of services rose 0.8%.

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