Bitcoin (BTC) Price: Falls Below $81,000 After Hot U.S. CPI Report

Bitcoin (BTC) fell below $81,000 during Asian trading hours on Thursday. The price dropped 3.6% over 24 hours to $80,764. Ether (ETH) lost 6.5% to $2,353 over the same period. Zcash had the biggest loss among the top 10 cryptocurrencies, down 12.8% at $1,101. The decline followed Wednesday’s U.S. inflation report. September CPI rose 3.7% year over year, above the 3.6% forecast. Bitcoin slipped to $81,926 on Bitstamp after the release. Gold fell to $4,079 per ounce. Gasoline prices rose 9.1% in September and made up over half of the monthly increase, the Bureau of Labor Statistics said. Core CPI came in at 2.6%, also 0.1% above forecasts. CME Group’s FedWatch Tool now shows a 53.7% chance of a 25-basis-point rate hike at the Fed’s Oct. 28 meeting.

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