Bitcoin Drops Below $82,000 as September US CPI Exceeds Forecasts at 3.7%

Bitcoin traded below $82,000 after falling roughly 2% on hotter-than-expected September U.S. inflation data. The Consumer Price Index rose 3.7% year-over-year, topping the 3.6% consensus estimate, while monthly headline CPI climbed 0.6% and core CPI gained 0.3%. The report spurred expectations of Federal Reserve policy tightening, lifting October rate-hike odds above 50% and pushing the 10-year Treasury yield toward 5.3%. Bitcoin dropped from roughly $83,860, testing support near $81,300 before trading near $82,142 as crypto derivative liquidations crossed $281 million.