US Factory Cost Spike Clouds Bitcoin's Push Above $85,000 Amid Inflation Worries

Bitcoin is testing the $85,000 level as accelerating US manufacturing price pressures threaten its rally. The Institute for Supply Management's manufacturing prices index surged 6.8 points to 77.9 in September from 71.1 in August, with 58.6% of respondents citing higher input costs compared to 46.2% previously. Headline manufacturing PMI held in expansion at 54.5, backed by new orders at 55.3 and employment at 52.7. The inflation rebound follows the Federal Reserve's September rate hike to a 3.75%-4.00% target range, heightening concerns that elevated borrowing costs will pressure non-yielding crypto assets.