Bitcoin Drops Below $81,000 After Hot U.S. Inflation Data
Bitcoin fell below $81,000 and Ethereum under $2,400 as September's Consumer Price Index rose 0.6% monthly and 3.7% yearly, beating forecasts due to sharp gasoline price jumps. The data sparked over $350 million in long position liquidations in just 10 minutes, totaling nearly $1 billion in 24 hours, with trader Machi Big Brother's account dropping from $12 million to $21,800. Total crypto market cap shed more than $140 billion, underscoring sensitivity to rate hike fears, while President Trump claimed lower inflation rates at an Arizona rally amid fact-checks showing 3.7% year-over-year.
farah khan