Bitcoin slips below $80K as hot US inflation revives rate-hike fears
- —Bitcoin hit an intraday low of $79,694 before recovering to around $82,600
- —More than $929 million liquidated in 24 hours, roughly 84% longs
- —Spot BTC ETFs lost about $228 million over October 12-16; ETH ETFs shed $320.1 million
- —Odds of an October Fed hike fell from 27% to 15% after Warsh's IMF remarks
Why it matters: Inflation remains the dominant macro driver: a hot CPI pressures risk assets, but softer Fed rhetoric could quickly restore appetite for bitcoin.
Source: Bitcoin Insider