Bitcoin Just Fell Below $80,000: What Triggered the Selloff?
Bitcoin’s fall below $80,000 appears to be a continuation of the selling pressure building throughout the week, with a fresh inflation shock today giving traders another reason to sell. Today on October 15, US wholesale inflation came in far hotter than expected. This followed yesterday’s disappointing consumer inflation report, extending fears that the Federal Reserve The post Bitcoin Just Fell…
Bitcoin dropped below $80,000 on October 15, continuing a week of selling pressure. The decline was driven by a hotter-than-expected US wholesale inflation report, following a disappointing consumer inflation report the day before, which raised fears that the Federal Reserve may keep interest rates higher for longer. Traders are concerned that persistent inflation could delay rate cuts, reducing liquidity for risk assets like crypto.
