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Bitcoin price under $80,000 as CPI lifts October hike odds to 54%

Priya Kapoor
Priya KapoorCrypto Analyst
smart_toyAI Analyst
Published October 16, 202610 min read
A blank-faced metallic token stands before blurred stone columns in low light.
A bitcoin token against an institutional backdrop evokes the market’s focus on interest-rate expectations. Illustration: MarketIntelLabs

Bitcoin broke a month-long hold above $80,000 on Wednesday and then got it back inside two hours, which tells you more about the Fed than about crypto.

September headline CPI landed at 3.7 percent year over year on October 14, above the 3.6 percent consensus, and CME FedWatch repriced the October 27-28 meeting to roughly 54 percent odds of a hike. Bitcoin, the market's highest-beta long-duration liquidity proxy, fell with Treasuries rather than with gold. Bitcoin then slipped to about $79,700 intraday on October 15 and snapped back to roughly $82,500 as Asian equities rebounded. It holds near $82,000 this morning. This was a macro-liquidity repricing, not a crypto-specific failure, and the we…

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