Bitcoin and XRP fell after a US producer price report showed higher-than-forecast inflation, adding to concerns about a possible Fed rate hike. Bitcoin fell near $81,500, down more than 3.60% over 24 hours; the source gives no price for XRP.
The Bureau of Labor Statistics released the September report on October 15, though the source does not specify the release year. Producer prices rose 1.3% from August on a seasonally adjusted basis, against a 0.6% forecast, and annual inflation reached 6.3%, against a 5.4% forecast. CME FedWatch data put the odds of a 25-basis-point October rate hike at 34% and a pause at 66%; neither outcome had been decided.
