Crypto Daily – (BTC) continued its current correction with a dip below $59,000 on Thursday. The alpha cryptocurrency may have been affected by the news out of the Consumer Price Index Report that inflation had increased 0.2% in September, which was a more than expected rise.
Inflation increase and SEC action weigh on $BTC
The possible reemergence of inflation might become a worry once again for the U.S. Federal Reserve. With Thursday’s publication of the inflation figures for September, it was found that CPI had risen 0.2%, while core CPI had increased to 0.3%.
While this news may have contributed to the sharp 3.6% dip for the price of Bitcoin, it also didn’t help when it emerged that the Securities and Exchange Commission (SEC) is going to sue prominent market maker Cumberland DRW, for allegedly trading crypto securities.
The response from Cumberland DRW on its X account was a firm counter to the SEC’s accusations:
