Bitcoin Rides Out Fed Hawks, 3.6% Inflation and AI Capex Fears

The Fed paused its tightening, but two policymakers voted for another hike. US inflation picked up in September while growth and hiring stayed strong. Investors punished heavy AI spending at Alphabet but rewarded Microsoft’s restraint. Fidelity data shows Bitcoin holders have moved back into meaningful profit. Bitcoin climbed back above $80,000 on Thursday after a Federal Reserve pause that two policymakers openly opposed and a September inflation reading that rose to 3.6%. The European Central Bank also held rates while warning about energy prices, and Alphabet’s earnings revived doubts about how much Big Tech is spending on AI.