According to @KobeissiLetter, 40% of CPI items were estimated in September, up from 36% in August and versus a typical ~10%, meaning the share has roughly quadrupled over the last seven months (source: @KobeissiLetter). According to @KobeissiLetter, the Bureau of Labor Statistics filled missing price quotes with substitute pricing across roughly 200 product and service categories, making current CPI readings less representative of actual consumer costs (source: @KobeissiLetter). According to the U.S. Bureau of Labor Statistics, substitute pricing (imputation) uses prices from similar items or regions when a quote is unavailable and is part of the official CPI methodology during data collection gaps (source: U.S. Bureau of Labor Statistics). According to the Federal Reserve, inflation readings inform policy expectations, so heightened CPI measurement uncertainty can amplify rate and dollar volatility that transmits to crypto beta such as BTC and ETH around data releases (source: Federal Reserve).

According to The Kobeissi Letter (@KobeissiLetter), current financial markets are experiencing unprecedented levels of noise due to factors including tariffs, ongoing wars, Federal Reserve decisions, recession concerns, and fluctuating inflation data (source: Twitter, June 22, 2025). For crypto traders, this heightened volatility means that monitoring price action remains the most reliable strategy, as macroeconomic headlines are creating rapid, unpredictable swings in both traditional and cryptocurrency markets. Adapting trading strategies to focus on real-time price movement can help traders of BTC, ETH, and other cryptocurrencies navigate the uncertainty.