Bitcoin Jumps as U.S. Consumer Prices Rose Just 0.4% in October, With Annual Pace Slowing to 7.7%

Behind growing expectations for the smaller move are ideas that recession risks are on the rise, with Fed Chair Jerome Powell conceding at his most recent press conference that the path to a soft landing has “narrowed.” Powell also signaled that the central bank might consider a smaller rate increase in December. On the other hand, Powell said that the terminal rate for this tightening cycle will likely be higher than previously forecast.