Inflation Holds at 3.7% in September CPI Report, Showing Signs of Slowing as Bitcoin and Crypto Markets Dip

The latest U.S. Consumer Price Index (CPI) report shows inflation holding at 3.7% in September, topping estimates but showing signs of slowing underlying inflation.

Bitcoin and the broader crypto market dipped following the CPI report, with Bitcoin down 1.3% over 24 hours.

While inflation remains elevated, experts say the worst is likely behind us and don't expect further aggressive interest rate hikes from the Fed.

Crypto market volatility is expected due to low liquidity and volumes being at multi-year lows.

Some experts see Bitcoin becoming more of a safe haven asset like gold as CPI reports become less relevant for crypto markets.