Bitcoin plunges to $81,300 support as Fed hike odds hit 55% amid $100 million crypto wipeout
Summary
Bitcoin fell below $83,000 after hotter-than-expected US inflation revived expectations of further Federal Reserve rate hikes. More than $100 million in crypto positions were liquidated in the hour after the data, with 24-hour liquidations exceeding $220 million. September CPI rose 3.7% year over year, while core inflation accelerated to 2.6%. Treasury yields climbed, and prediction-market odds of an October rate hike increased. Higher yields and a stronger dollar could pressure risk assets, though CryptoQuant estimated Bitcoin demand had recovered by about 69,000 BTC after two weak months. Analysts identified $81,300 as a key support level; the Fed meeting and upcoming PCE data are the next major tests.
