Bitcoin Tests $81,000 as Rate Hike Fears Linger After Hot Inflation Data

What happened: Bitcoin fell below $81,000 after hotter than expected U.S. inflation data revived bets on another Fed rate hike. Key numbers: Bitcoin traded at $81,002, down 2.7% in 24 hours, with an intraday low of $80,444. September CPI rose 3.7% year over year and 0.6% for the month. Why it matters: Analysts attribute the stalled rally partly to slowing demand from spot ETFs and corporate treasuries. Algoz's Stephen Wundke expects Bitcoin to trade between $76,000 and $83,000 for the rest of October without a clear catalyst. Coverage: 6 outlets in 24h

Bitcoin fell below $81,000 after hotter than expected U.S. inflation data revived bets on another Fed rate hike.

Analysts attribute the stalled rally partly to slowing demand from spot ETFs and corporate treasuries. Algoz's Stephen Wundke expects Bitcoin to trade between $76,000 and $83,000 for the rest of October without a clear catalyst.