Bitcoin Dips Below $80K to $79,802 Low on Hot 3.8% CPI, Recovers to $80,800

Bitcoin briefly plunged below $80,000 to a 24-hour low of $79,802 on May 12 after U.S. CPI hit a three-year high of 3.8% YoY, slashing Fed rate cut odds to 19% and amplifying geopolitical pressures from U.S.-Iran tensions. The drop capped a volatile stretch: BTC rallied to $81,600 on May 10 amid a 57% volume surge and $380M short liquidations following Trump's Iran peace rejection; it then whipsawed to $82,500 highs on May 11 with $410M total liquidations as oil surged to $98.7/bbl. Now trading near $80,700–$80,900 with negative funding rates, BTC tests $78,000 support amid whale accumulation and falling open interest.