Bitcoin dips below $81,000 amid rate hike fears following hotter-than-expected US inflation data

Bitcoin dipped to an intraday low under $81,000, trading at $81,002, down 2.7% over 24 hours and 2.5% over the past week. This decline followed US consumer prices rising 3.7% in the year to September, driven partly by energy costs tied to the war with Iran. Traders' odds of a Fed rate hike this month jumped to 43% from 24% after the report, though federal funds futures still point to December for the next increase. HashKey's Tim Sun said slowing demand from spot ETFs and corporate Bitcoin treasuries explains the stalled rally more than macro factors alone, while Algoz's Stephen Wundke expects Bitcoin to trade between $76,000 and $83,000 for the rest of October.