Bitcoin fell to its lowest since June on US inflation data

The bitcoin exchange rate fell by more than 4% during Thursday's trading after the publication of inflation data in the United States.

The daily minimum of the cryptocurrency was fixed at $18,161, which was the lowest price since mid-June. The current BTC quote paired with the dollar is $18,838. 

The pressure on the cryptocurrency today was exerted by a strong strengthening of the US currency after the release of inflation statistics. Consumer prices (CPI index) in September increased by 8.2% compared to the same month last year. Thus, inflation slowed to a minimum in seven months compared to 8.3% in August, but turned out to be higher than the 8.1% expected by analysts.

It is noted that higher-than-expected inflation increases the likelihood of another rate hike by 75 basis points at the next Fed meeting, which will be held on November 1-2.

The exchange rate of ether (Ethereum) also fell – by 6.6%, to $ 1,190 thousand. The rest of the digital assets from the top 10 also seemed to be in the red zone. The worst dynamics were demonstrated by Cardano (-9.7%), Solana (-7.8%) and XRP (-7.7%).