The consumer price index has just been released. The CPI points to an 8.3% YoY change and 0.1% MoM change. These are not the numbers that the crypto market was hoping for. The estimated CPI was expected to be 8.1% YoY and -0.1% MoM.
As a result of the CPI data, Bitcoin and Ethereum prices are falling. BTC and ETH have both fallen close to 4% in a few minutes. The core CPI numbers are also worse than expected. The core CPI shows a 6.3% YoY increase, instead of the expected 6.1%.