Bitcoin Tests $81,000 as Rate Hike Fears Linger After Hot Inflation Data
Summary
Bitcoin fell 2.7% in 24 hours to about $81,000, after U.S. inflation data strengthened expectations of Federal Reserve rate hikes. September consumer prices rose 3.7% year over year and 0.6% month over month. Market estimates for an October hike increased, though forecasts still generally pointed to December. Analysts said higher borrowing costs, a stronger dollar and reduced corporate treasury buying pressure Bitcoin, while ETF inflows and institutional demand may support it. They expect choppy, range-bound trading in the near term, with the Fed’s next decision due October 28.
