US inflation slows in October, boosting bitcoin and lowering odds of near-term Fed rate hikes
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U.S. inflation data for October was better than expected, with CPI flat and core rate up just 0.2%.
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On a year-over-year basis, CPI rose 3.2% and core CPI rose 4.0% in October.
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Bitcoin price jumped nearly 1% after the news to near $36,700.
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CPI inflation has been slowing but remains above the Fed's 2% target.
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Odds of a Fed rate hike in December and January dropped sharply after the data.