Bitcoin fell below $82,000 after U.S. Inflation data for September exceeded expectations, extending a broader pullback across risk-sensitive markets. Gold also declined, reaching $4,079 an ounce, while stock futures moved lower.
Underlying price pressures also strengthened.
The data arrived as higher fuel costs from the Middle East conflict continued to affect transportation and business expenses. Separate price pressures were also appearing in technology-related goods as investment in data centers and artificial intelligence lifted costs for semiconductors and electronic equipment.
Higher inflation pushed Treasury yields upward and changed interest-rate expectations. Futures pricing put the probability of a 25-basis-point Federal Reserve increase at the October 27-28 meeting near 50%, up sharply from the previous day, while expectations for another December increase also strengthened.
Most investors still expected the Fed to hold rates at the October meeting and potentially raise them in December, but the inflation report increased pressure on policymakers. Inflation release was scheduled to be the September Producer Price Index on Friday. Bitcoin remained near the $82,500-to-$83,400 range that traders were watching as potential support, leaving the market’s next direction unresolved.