Bitcoin slips under $81k as hotter US inflation rattles risk assets

On October 15 Bitcoin touched a low of $80,632 on Binance after US inflation data came in hotter than expected. In the last 24 hours the coin fell 2.6 %, Ethereum dropped 5.2 %, and Zcash plunged 11.7 %. Total crypto market value shrank nearly 4 % to roughly $2.8 trillion.

September CPI rose 3.7 % year-on-year against a 3.6 % forecast, while core inflation hit 2.6 % instead of the expected 2.5 %. The surprise pushed investors out of risk assets across the board.

US indices fell sharply once trading opened, with S&P 500 losing more than 1 % and Nasdaq 100 dropping over 2 %. Asian markets fared worse: Kospi slid 8.5 % and Nikkei 225 lost 4.8 %. Zeus Research analyst Dominic John tied the sell-off to a broad flight from risk amid weakness in US tech stocks.

The move erased early-October signs that Bitcoin had found a local bottom, leaving traders watching whether the $80,000 area will hold.

Based on information from cryptonews.net