US Inflation Hits 3.7%, Sinking Bitcoin and Gold: Will the Fed Hike in October?
US consumer prices rose 3.7% in the year to September, while core inflation came in at 2.6% versus a 2.5% forecast. After the inflation reading, Bitcoin, gold, and broader crypto moved lower, and Treasury yields moved higher.
What this rests on
What it means
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US consumers, crypto traders, and gold holders saw a fresh inflation print that landed above forecasts, and markets reacted right away. Bitcoin and gold moved lower within minutes, while Treasury yields moved higher after the September CPI reading.
In practice, the inflation number put a rate-hike discussion back in view, and that is the main change in what market participants were watching. What did not change is that the report was still a monthly CPI release with a headline and core measure, and both were still compared with forecasts.
Market reaction
How the story was built
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BeInCrypto
scoop
NPR — Business
context
NEXO
The Coin Republic
context
Decrypt
echo
What Inflation (US CPI) has done before
| When | What happened | Figure |
|---|---|---|
| 2 months ago | Inflation (US CPI): 336.298 (+2.17) rise | Sep 2026 |
| 3 months ago | Inflation (US CPI): 334.131 (+1.32) rise | Aug 2026 |
| 4 months ago | Inflation (US CPI): 332.813 (+0.25) rise | Jul 2026 |
| 5 months ago | Inflation (US CPI): 332.568 (-1.41) fall | Jun 2026 |
| 6 months ago | Inflation (US CPI): 333.979 (+1.57) rise | May 2026 |
FRED series, with the value of each release and its change.
What could happen next
What the prediction markets currently price as likely. This is context, not a forecast of ours: there is money on it, and that is all we show.