The post U.S. PPI Inflation Rises 2.7% YoY, Bitcoin Falls appeared on BitcoinEthereumNews.com. The U.S. PPI inflation data for September has come in higher than expectations, providing a bearish outlook for Bitcoin. The flagship crypto quickly dropped after the PPI report, which could cast doubt on another rate cut at the December FOMC meeting. September PPI Inflation Comes In Hot, Bitcoin Drops Bureau of Labor Statistics data shows that the September PPi inflation rose to 2.7% year-over-year (YoY), which is above expectations of 2.6%. However, the Core PPI came in at 2.6%, lower than expectations of 2.7%. Meanwhile, the monthly PPI for September came in at 0.3%, in line with expectations, and Core PPI came in at 0.1%, month-over-month (MoM), below expectations of 0.2%. Notably, the PPI inflation report has sparked a bearish sentiment, with the BTC price dropping following its release. Yahoo Finance data shows that Bitcoin has dropped from around $87,800 to below $87,000 following the inflation report. The flagship crypto is now hovering around $87,000 at press time. Source: Yahoo Finance; Bitcoin Daily Chart The PPI inflation data is significant as it could influence the Fed’s decision at the upcoming December FOMC meeting. The Fed is expected to cut rates, with the odds of a 25-basis-point cut above 80%. However, some Fed officials remain skeptical of another cut amid rising inflation. The September inflation report paints a mixed picture, as the year-over-year PPI came in above expectations while the Core PPI came in below expectations. As CoinGape reported, Fed Governor Chris Waller stated that inflation isn’t a big problem and that he expects it to keep declining toward the Fed’s 2% target. On the other hand, he remarked that there is no evidence of a rebound in the labor market, which is why he is advocating for another cut at the December FOMC meeting. Market commentator The Kobeissi Letter stated… The post U.S. PPI Inflation Rises 2.7% YoY, Bitcoin Falls appeared on BitcoinEthereumNews.com. The U.S. PPI inflation data for September has come in higher than expectations, providing a bearish outlook for Bitcoin. The flagship crypto quickly dropped after the PPI report, which could cast doubt on another rate cut at the December FOMC meeting. September PPI Inflation Comes In Hot, Bitcoin Drops Bureau of Labor Statistics data shows that the September PPi inflation rose to 2.7% year-over-year (YoY), which is above expectations of 2.6%. However, the Core PPI came in at 2.6%, lower than expectations of 2.7%. Meanwhile, the monthly PPI for September came in at 0.3%, in line with expectations, and Core PPI came in at 0.1%, month-over-month (MoM), below expectations of 0.2%. Notably, the PPI inflation report has sparked a bearish sentiment, with the BTC price dropping following its release. Yahoo Finance data shows that Bitcoin has dropped from around $87,800 to below $87,000 following the inflation report. The flagship crypto is now hovering around $87,000 at press time. Source: Yahoo Finance; Bitcoin Daily Chart The PPI inflation data is significant as it could influence the Fed’s decision at the upcoming December FOMC meeting. The Fed is expected to cut rates, with the odds of a 25-basis-point cut above 80%. However, some Fed officials remain skeptical of another cut amid rising inflation. The September inflation report paints a mixed picture, as the year-over-year PPI came in above expectations while the Core PPI came in below expectations. As CoinGape reported, Fed Governor Chris Waller stated that inflation isn’t a big problem and that he expects it to keep declining toward the Fed’s 2% target. On the other hand, he remarked that there is no evidence of a rebound in the labor market, which is why he is advocating for another cut at the December FOMC meeting. Market commentator The Kobeissi Letter stated…