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September CPI came in at 3.7%, above forecasts, and Treasury yields jumped. Higher rates make Bitcoin less attractive, so crypto fell along with stocks.

Markets now price a real chance of another rate rise at the October 27-28 Fed meeting. A stronger dollar and higher yields are pulling money away from Bitcoin.

Producer prices rose 1.3% in the month and 6.3% over the year, far above expectations. This adds to the case for the Fed to keep raising rates, which weighs on Bitcoin.
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