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Ethereum was trading higher on Friday, as market volatility eased, following the latest U.S. inflation report. Core inflation rose 0.6%, with consumer prices up to 8.2%, higher than the expected 8.1%. Despite this, traders seem to have breathed a sigh of relief, as the uncertainty surrounding the report has now passed. Bitcoin moved closer to $20,000 on the news. Bitcoin Bitcoin (BTC) moved towards the $20,000 level on Friday, as uncertainty in crypto markets eased, following the latest U.S. inflation report. Despite consumer prices rising by more than expected, markets reacted positively, as speculation surrounding the report has faded. As a result of the report, BTC/USD rose to an intraday high of $19,835.17, less than 24-hours after trading at a low of $18,642.11. BTC/USD – Daily Chart This rally has seen momentum shift once again, with several indicators now leaning more towards bullish territory. The 14-day relative strength index (RSI) is now back above the 50.00 ma...

The latest inflation data from the United States indicates that consumer prices have kept climbing despite expectations of a slowdown. The Consumer Price Index (CPI) summary published on Thursday shows an 8.2% rise in the year through September, and the core index rating saw the fastest yearly increase since 1982. September’s CPI Data Was Worse Than Expected, Report Signals an Aggressive Fed Rate Hike on the Horizon, Global Markets Shudder U.S. inflation numbers for September are in, and the inflation rate , or CPI, is worse than expected. According to the U.S. Bureau of Labor Statistics’ CPI summary published on October 13, the report shows the “Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in September on a seasonally adjusted basis after rising 0.1 percent in August.” The Bureau of Labor Statistics’ report adds: Over the last 12 months, the all items index increased 8.2 percent before seasonal adjustment. The latest CPI stats also show that the “...