Bitcoin Price Loses $83K as U.S. CPI Inflation Data Fuels Fresh Crypto Market Selloff

Key Insights Bitcoin price fell below $83,000 and crypto market retreat after September US CPI inflation readings exceeded expectations. US inflation remained above the Federal Reserve’s 2% target for 66 consecutive months. Solana led weekly losses among the top eight cryptocurrencies, falling 10.1% to $104.62. Bitcoin fell below $83,000 as September US consumer price index (CPI) inflation exceeded expectations and fueled speculation of another crypto market selloff. The headline US CPI rose 3.7% year over year, while several major digital assets posted weekly losses. Specifically, Bitcoin price plunged 1.5% within an hour of the inflation data release.