Bitcoin is back below $81,000 as Fed rate uncertainty weighs
Summary
Bitcoin fell below $81,000 as higher-than-expected U.S. inflation renewed concerns that the Federal Reserve could raise interest rates. September CPI rose 3.7% year over year, while core CPI accelerated to 2.6%. Bitcoin was down more than 2% over 24 hours, and ether, XRP and solana fell 3.5% to 4%. Rate-hike probabilities briefly climbed toward 50% after the data, then retreated to around 26% on CME’s FedWatch tool. U.S. spot Bitcoin ETFs also saw $150.5 million in outflows on October 14. Market participants said uncertainty over the Fed’s decision is weighing on liquidity and risk appetite, though futures markets still favor rates remaining unchanged this month.
