Bitcoin (BTC) fell back below $81,000 early Thursday as hotter U.S. inflation renewed worries that the Federal Reserve could raise interest rates this month. The largest cryptocurrency came close to $80,000 on Wednesday before a brief rebound to about $81,500 faded during the Asian session.
BTC traded just under $81,000 and was down nearly 1% since midnight UTC. Over the past 24 hours, prices declined more than 2% as rate uncertainty weighed on risk assets across crypto.
Why did Bitcoin slide after the inflation print?
Stronger-than-expected U.S. inflation stoked expectations of tighter policy, pressuring Bitcoin and major tokens. Consumer prices rose 3.7% in the 12 months through September, up from 3.4% in August and above economists’ forecasts, reviving concern that the Federal Reserve could raise rates this month.
That macro surprise clipped momentum across digital assets. After dipping near $80,000 on Wednesday, BTC’s rebound to roughly $81,500 was short-lived, with selling resuming into the Asian session and knocking the price back below $81,000. The backdrop left broader cryptocurrency markets on the defensive.
Asset | 24h change |
|---|
Bitcoin (BTC) | More than -2% |
Ethereum (ETH) | -3.5% to -4% |
XRP (XRP) | -3.5% to -4% |
Solana (SOL) | -3.5% to -4% |
PYTH | More than +7% |
How broad was the selloff across crypto?
Losses extended beyond Bitcoin, with ether, XRP, and solana down between 3.5% and 4% over 24 hours. One notable outlier: PYTH stood out as the only top-100 cryptocurrency posting gains of more than 7%, bucking the downside that hit large-cap tokens.
Ether (ETH) traded around $2,365.03 as declines across majors accelerated following the CPI release. The synchronized move underscores the market’s sensitivity to interest-rate expectations, with higher-for-longer narratives typically pressuring cryptocurrency valuations and risk appetite.
What price levels defined Bitcoin’s latest move?
Intraday swings clustered around three levels: an approach toward $80,000 on Wednesday, a quick recovery to about $81,500, and a subsequent fade back below $81,000 early Thursday. From midnight UTC, BTC slipped nearly 1%, adding to a broader, more than 2% 24-hour decline as the Asian session unwound rebound attempts.
The pattern captures a market grappling with macro headlines: a hotter 3.7% annual CPI reading versus 3.4% in August re-centered focus on the upcoming policy decision and tempered dip-buying near $80,000. Follow-through selling then capped the $81,500 bounce.
What should crypto investors watch next?
Inflation and interest-rate expectations remain the immediate swing factors. The September CPI at 3.7% year-over-year, above August’s 3.4%, has put potential Fed action back in focus, a dynamic that has pressured Bitcoin, ethereum, and other large-cap tokens while leaving only select outliers like PYTH in positive territory.
Until rate uncertainty eases, intraday volatility around key thresholds—$80,000 on the downside and the low-$81,000s on the upside—may continue to shape market tone. Broader altcoin performance has tracked Bitcoin’s direction, with 3.5% to 4% pullbacks across ether, XRP, and solana highlighting the macro-led correlation.
Bitcoin’s near-term path hinges on whether inflation pressures cool sufficiently to defuse rate fears. For now, the market’s message is clear: stronger price data and renewed policy uncertainty remain headwinds for BTC and the wider cryptocurrency complex.
