The US CPI slowed slightly, but it remains at multi-year highs. Investors had no doubt that the Fed would rise rates again at the next meeting.

According to the Bureau of Labor Statistics, the consumer price index (CPI) stood at 8.2% year-on-year in September, down only 0.1 percentage point since August. New data suggests that inflation is still hovering at its highest level since the early 1980s. Except food and energy prices, the core consumer price index in September demonstrated growth, reaching 6.6%. The core CPI has not shown such a growth rate since August 1982.

Markets reacted immediately by dropping. Investors are now confident that the US Federal Reserve Service (FRS) at the upcoming meeting will raise the key rate allegedly by 0.75 points. Stock market futures fell and Treasury yields rose as traders now look to an aggressive rate hike.

The crypto market also responded with a surge in volatility. The price of Bitcoin hit a three-week low, dropping to $18,700. However, bulls managed to retain BTC under the $19,000 line.

Crypto investors do not rule out that in the coming months, Bitcoin will succumb to the pressure of bears and go down, breaking through the support levels at $17,600 and $16,000.

But there is no unanimity of opinion among crypto investors. Many believe that Bitcoin will find a bottom no lower than $17,000, and then it will consolidate and, conversely, show growth to $22,000 and above amid high inflation fears and investors' escape from traditional assets to alternative ones.