Bitcoin Drops Toward $80,000 Following Hot US CPI Report

Bitcoin (BTC) fell 3.3% in 24 hours to $80,979 after the US inflation report showed annual inflation at 3.7% in September, beating the 3.6% forecast, and core inflation at 2.6% against an expected 2.5%. This drop pushed BTC below the average cost basis paid by US spot ETFs, near $81,500 per Glassnode, which recorded $261.5 million in net outflows on the same day. Despite the price pressure, whales had been accumulating, reaching 3.03 million BTC outside exchanges and mining pools, the highest since November 2025, according to CryptoQuant data. CryptoQuant CEO Ki Young Ju said, "Whales have switched from selling to accumulating… That is how early bull markets start, with retail still absent."