TL;DR: Bitcoin slipped below $81k as hotter US CPI data revived Fed rate‑hike bets, with spot ETF demand waning and analysts penciling a $76‑$83k range for October.
The Details
- BTC/USDT fell to an intraday low of $80,444, down ~2.7% in 24 h, after CPI showed a 3.7% YoY rise and a 0.6% MoM jump—the biggest monthly increase in five months, driven by energy costs linked to the Iran conflict.
- Traders’ odds of an October Fed hike rose to ~29‑30% (CME FedWatch) and 43% for any hike this month, keeping macro risk on the table.
- HashKey’s Tim Sun attributes the stalled rally more to slowing spot‑ETF and corporate treasury demand than pure macro pressure.
- Algoz’s Stephen Wundke expects Bitcoin to trade in a $76k‑$83k band for the rest of October unless a clear catalyst emerges.
Watch For
- Fed rate‑hike decision in October (any move could swing BTC 2‑4% intraday).
- Spot‑ETF inflows: A rebound in demand could provide upside support.
- New macro data (inflation, employment) that could further shift rate‑hike probabilities.
Analyzed by FNXT Experts