• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ledger CTO Warns Of Crypto Clipper Malware Following Major NPM Breach
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ledger CTO Warns Of Crypto Clipper Malware Following Major NPM Breach
Bitcoin

Bitcoin Parries Full-Blown CPI Onslaught, Recovers Above $19,000 Level

Christian Encila
by Christian Encila
2 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin bucked its shaky initial reaction to the latest Consumer Price Index (CPI) report released on Thursday, rebounding right away after an expected price decline.

  • Bitcoin nears $20K mark after the CPI report was released
  • Inflation in U.S. is at 8.2%, the highest since 1982
  • BTC market capitalization trimmed by almost $5 billion

Just a few moments after the CPI report was released, BTC, as expected, dropped all the way to $17,985 in tallying a new October low, CNBC reports.

But bitcoin was able to parry the full-blown CPI onslaught as it recovered above the $19,000 level. According to tracking from Coingecko, at press time, the largest cryptocurrency in terms of market cap was changing hands at $19,863.

The asset was up by 4.2% for the past 24 hours and was able to increase by 1.6% for the last 2 weeks. According to Statmuse, its current trading price is its 4th highest one for the month of October.

Related Reading: Duh? Bitcoin? Study Shows Over 60% Of Global Population Are Ignorant About Crypto

Bitcoin Records Massive Outflow After CPI Report

The maiden crypto’s post-CPI reaction is not only confined in its price movement as its total market capitalization witnessed a decline.

After the September inflation figures were released in public, bitcoin experienced increase in selling pressure, driven by speculations on what the Federal Reserve plans to do next in order to contain economic pressure, the report added.

 

Source: TradingView

Prior to the publication of the CPI report, BTC market capitalization stood at $360 billion. After the release, the value shed $8.48 billion.

Capital outflow means more crypto is being withdrawn from exchanges to wallets. During this event, an asset (bitcoin in this case) becomes scarce and its price goes up.

The U.S. September inflation surged by 8.2% and although it is just slightly higher than the expected 8.1%, it stands as the highest level since 1982.

Bitcoin Towards The End Of 2022

Fluctuations of bitcoin price in the beginning of this year have made crypto experts to forecast average price for this month at $20,015 with minimum and maximum prices of $18,109 and $20,587, respectively.

BTC price in November 2022 is predicted to be a bit higher, averaging $20,616. The lowest possible mark that the asset will hit next month is $19,663 while the highest is $21,388.

Incidentally, the cryptocurrency attained its all-time high value of $69,044 on November 10, 2021 after an impressive October run.

Although still miles away from its all-time high, bitcoin is expected to gain more steam in December, going for price as high as $22,419. Average price is seen to be at $21,234.

Related Reading: Bitcoin Rebound Is About To Happen, This On-Chain Data Show

BTC market cap at $376 billion on the daily chart | Featured image from Bleacher Report, Chart: TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

Metaplanet

Bitcoin Stash Grows: Metaplanet Now Holds 20,136 BTC After $15M Buy

11 hours ago
El Salvador

El Salvador’s Bitcoin Journey Hits 4-Year Mark, Results Still Divisive

15 hours ago
Bitcoin

Over 1 Million In Bitcoin Locked In Treasuries As Institutions Pour In $1 Billion

1 day ago
Bitcoin

$5 Billion Bitcoin Treasure Tied To Piracy Website Found In German Wallets

2 days ago
Bitcoin

Bitcoin Indicator Re-Enters Accumulation Zone After 147 Days – Details

2 days ago
Bitcoin

$6B In Bitcoin: Marathon Digital Treasury Now 2nd-Largest Among Public Firms

2 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • PEPENODE มีมคอยน์กบกอดโทเค็นสุดน่ารัก

    PepeNode เหรียญมีมสาย Mine-to-Earn...

    2 hours ago
  • Bitcoin Hyper

    Bitcoin Hyper наближава $15 милиона...

    4 hours ago
  • miner

    From simply holding coins to earning steady daily returns...

    6 hours ago
  • Ex-Wealth Manager Théo Vaucher Leaves Wealth Management to...

    7 hours ago
  • miner

    COME Mining cloud mining is becoming a new way to play with...

    17 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.