Bitcoin Drops Below $82,000 Following Hotter-Than-Expected US Inflation Data

Key Facts

1Bitcoin price fell below the $82,000 level following the release of higher-than-expected US inflation data.

2September CPI rose 3.7% year over year, while core CPI increased 2.6%.

Bitcoin price fell below the $82,000 level following the release of higher-than-expected US inflation data for September. Tokenpost reported that the Consumer Price Index (CPI) rose 3.7% year-over-year, while core CPI increased 2.6%, prompting traders to recalibrate interest rate expectations.

Gasoline prices jumped 9.1% during the month, accounting for over half of the overall increase alongside rising costs in housing and medical care. An analyst at Huobi HTX noted that continued strength in core services could keep interest rates elevated for longer, a scenario that typically pressures non-yielding assets like Bitcoin as the US dollar and Treasury yields rose following the report.