Bitcoin faces volatility amid rising U.S. inflation and Ripple expands into securities

Bitcoin prices experienced volatility following the release of U.S. Consumer Price Index (CPI) data. The September CPI rose 3.7% year-on-year, exceeding market expectations and increasing the probability of interest rate hikes. This led Bitcoin to hit a low of approximately $81,580.

In broader crypto developments, Ripple announced partnerships with U.S.-based DriveWealth and South Korea’s Meritz Securities. The move aims to integrate Ripple’s stablecoin, RLUSD, and its payment and custody infrastructure into the securities and brokerage sectors.

Additionally, the European Banking Authority (EBA) designated USDC, issued by Circle’s European entity, as the first ‘significant electronic money token’ under the Markets in Crypto-Assets (MiCA) regulation.