Bitcoin drops to $82,000 on US data, and inflation fear is blamed
Summary
August US job openings edged down to 7.1 million, while September consumer confidence fell and expectations for inflation and interest rates rose. The mixed signals offer no clear case for lower yields, which could help Bitcoin by making yield-free assets more attractive. Bitcoin touched $82,775.94, and a sustained move above $84,000 may depend on Treasury yields and stronger spot ETF demand. Recent ETF inflows were positive but modest. Upcoming PCE inflation and employment reports could clarify the outlook; neither the labor report nor consumer survey alone explains Bitcoin’s price.
