Bitcoin falls below $82K as hotter US inflation fuels Fed rate hike bets

Bitcoin falls to $81,500 as hotter than expected CPI data raises Fed rate hike expectations and triggers over $250 million in long liquidations. Bitcoin dropped below $82,000 on Wednesday morning, October 14, falling as low as $81,500 after hotter than expected US inflation data raised expectations of another Federal Reserve interest rate hike. The Consumer Price Index rose 3.7% in September from a year earlier, exceeding economists’ expectations of 3.6% and accelerating from 3.4% in August. Monthly inflation increased 0.6%, matching forecasts. Core CPI, which excludes food and energy prices, rose 0.3% month over month, above expectations of 0.2%.