Bitcoin Drops Below $22,000 As U.S. CPI Declines Less Than Expected To 8.3%

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Bitcoin failed to hold $22,000 as declines in energy prices drove down U.S. CPI less than expected to 8.3% in August; all other sectors rose MoM. Inflation fell to 8.3%, marking the second consecutive month of falling CPI reports. Every sector witnessed increased MoM inflation, except the energy sector which tilted the report. Bitcoin plunged below the $22,000 support level following the CPI release, along with stocks and gold; the dollar edged higher. Inflation fell to 8.3% from a year-over-year (YoY) perspective marking the second consecutive month of a declining Consumer Price Index (CP ...

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