‘Uptober’ remained elusive as leading cryptocurrencies stagnated after hotter-than-expected inflation data poured cold water on expectations of further interest rate cuts by the Federal Reserve. What Happened: Bitcoin slipped below $58,000 during trading hours before nearly recouping all the losses overnight. The world’s largest cryptocurrency was down 1.16% over the week and 8% since the beginning of October—a month that on average has yielded over 20% returns for King Crypto. The hotter-than-expected September’s consumer price index data, coupled with higher-than-expected weekly jobless clai…
