Bitcoin Fell to About $81,500 as Saylor Backed a Bull Market

Bitcoin (BTC) fell to about $81,500 on Oct. 14 before recovering, as September inflation data renewed concern about interest rates and came a day after Strategy Executive Chairman Michael Saylor described the market as entering a bull phase.

The Consumer Price Index rose 3.7% over the 12 months through September, compared with 3.4% in August. Prices increased 0.6% from the previous month, while the index excluding food and energy was up 2.6% year over year.

The figures raised concern that borrowing costs could stay elevated, putting pressure on risk-sensitive assets. Bitcoin’s decline coincided with the inflation release, but the timing alone does not establish that the data caused the move.

Saylor made his comments during an interview at DC Fintech Week on Oct. 13. “We think we’re at the beginning of a bull market,” he said. He added that Bitcoin had bottomed slightly below $60,000 and would “march forward” after recovering into the $80,000 range.

The pullback also came with substantial losses for leveraged crypto traders. Liquidations reached about $331 million over 24 hours, with long positions making up roughly 82% of the total.

Saylor’s remarks described his longer-term outlook. The Oct. 14 drop showed that Bitcoin’s short-term price can move alongside changes in economic data and interest-rate expectations.