Bitcoin’s $100,000 dream slips away as $939 million crypto wipeout pushes traders toward $78,000
Summary
Bitcoin briefly fell to $79,730 before recovering near $82,000 as unexpectedly high US producer-price inflation fueled a selloff and nearly $940 million in crypto liquidations. The data raised concerns about continued Federal Reserve tightening, though rate-hike expectations later eased as investors sought safety amid technology-stock weakness. Options traders turned more defensive: Derive put the chance of Bitcoin falling below $80,000 by Friday at 18.4%, nearly double the prior day. Traders are watching Friday’s roughly $1.3 billion options expiry and an October 30 expiry involving about 140,000 BTC contracts worth nearly $12 billion, with $78,000–$80,000 a key downside area.
