[Bitcoin Now] Eyes on US September CPI... Slight Rise Above $19,000

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] Bitcoin prices rose slightly ahead of the release of the U.S. Consumer Price Index (CPI) for September.

According to the global cryptocurrency market tracking site CoinMarketCap, as of 9:44 a.m. on the 13th, Bitcoin was priced at $19,151 (approximately 27.31 million KRW), up 0.40% from the previous day.

Investors are taking a wait-and-see approach while closely watching the U.S. September CPI report to be released that day. Cryptocurrency specialized media CoinDesk stated, "Investors will focus on the CPI report in macroeconomic news, and the U.S. September CPI is expected to rise 8.1% compared to last year." Although the expected CPI is a slowdown from August's 8.3%, it remains at a high level, making it difficult to expect a shift in the Federal Reserve's tightening stance.

Additionally, the minutes of the September Federal Open Market Committee (FOMC) meeting released on the 12th (local time) reaffirmed the existing monetary policy stance. It also included content suggesting that aggressive interest rate hikes could prevent much greater economic pain related to entrenched high inflation.

However, some comments hinted at a pace adjustment due to economic uncertainty and financial market instability. Some participants mentioned that it would be appropriate to slow the pace of policy rate hikes at some point. As a result, Treasury yields fell, and the previously declining U.S. stock market rebounded.

Meanwhile, according to cryptocurrency data provider Alternative, the Fear & Greed Index, which measures investor sentiment, remained at 20 points (extreme fear), the same as the previous day. Alternative's Fear & Greed Index ranges from 0 points, indicating extreme fear and pessimism about investing, to 100 points, indicating optimism.

This content was produced with the assistance of AI translation services.