CoinDesk
Bitcoin fell to about $80,400 early Thursday after trading near $84,000 on Wednesday, leaving it down 2.6% over 24 hours and back below $81,000. The drop followed hotter-than-expected U.S. inflation data and a worsening selloff in AI stocks.
Why it matters
Core inflation rose to 2.6%, above the 2.5% forecast. A hotter print can strengthen expectations of another Federal Reserve rate hike, supporting the dollar and weighing on risk assets such as Bitcoin. The Fed's next meeting is scheduled for Oct. 27–28.
The AI selloff added to the pressure. Nasdaq 100 futures fell 1.2% after Anthropic told prospective investors its revenue grew $16.8 billion in the third quarter, a figure that showed growth slowing.
Market impact
Bitcoin's next key test is a daily close below $80,400, which would break a floor buyers have defended twice since last Thursday. U.S. spot Bitcoin ETFs saw about $261 million in outflows on Wednesday, adding another sign of pressure.
Losses spread across crypto: ZEC fell 11% to about $1,100, while Ether dropped 5% to about $2,370. Inflation, AI-sector weakness and ETF outflows are converging as near-term risks for the market.
Frequently asked questions
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What inflation figure added pressure to Bitcoin?
U.S. core inflation rose to 2.6%, above the 2.5% forecast. The hotter reading can strengthen expectations of another Federal Reserve rate hike.
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Why is $80,400 an important level for Bitcoin?
A daily close below $80,400 would break a floor buyers have defended twice since last Thursday.
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How much did U.S. spot Bitcoin ETFs lose?
U.S. spot Bitcoin ETFs recorded about $261 million in outflows on Wednesday.
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How did other major crypto assets perform?
ZEC fell 11% to about $1,100, while Ether dropped 5% to about $2,370.
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What added to pressure on risk assets beyond inflation?
The AI selloff deepened after Anthropic told prospective investors its third-quarter revenue grew $16.8 billion, with growth slowing. Nasdaq 100 futures fell 1.2%.
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