Bitcoin price dips below $82K as high oil prices spike US CPI inflation

Bitcoin (BTC) fell below $82,000 after Wednesday’s Wall Street open as US consumer inflation beat expectations.Key points:Bitcoin dropped to $81,926 on Bitstamp after US September CPI inflation came in at 3.7% versus expectations of 3.6%.Fuel-price increases accounted for the lion’s share of the gain at 9.1% year-on-year.US bond yields spiked on the news, while gold fell to $4,079 per ounce.Bitcoin slips under $82,000 on higher US CPI printData from TradingView showed crypto, gold and stock-market futures dropping after the release of Consumer Price Index (CPI) for September.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewAt 3.7% year-on-year, this came in 0.1% above majority market consensus, data from the Bureau of Labor Statistics (BLS) confirmed. The increase in fuel prices around the Middle East conflict and oil-supply crisis was conspicuous.“The index for gasoline rose 9.1 percent in September, accounting for over half of the monthly all items increase. The energy index increased 5.2 percent over the month following a 2.1-percent increase in August,” an official release stated.US CPI 12-month % change. Source: BLSInflation nonetheless increased across the board, as c...