The Bureau of Labor Statistics released its report on the August CPI, and inflation clocked in at 8.3% – a MoM increase of 0.1%.
The Consumer Price Index numbers for August are in, and, as always, this caused major volatility within the cryptocurrency markets.The US Bureau of Labor Statistics justthe numbers for the Consumer Price Index for August and they are slightly above expectations. The August inflation locked in at 8.3%, which is 0.2% higher than what experts expected. This represents a 0.1% month-over-month increase.
At the time of this writing, Bitcoin is trading at $21,850, down about $1,000 in the past few minutes alone, as seen in the chart below.The volatility has also resulted in about $50 million worth of liquidated positions in the past hour alone.