Bitcoin Falls Below $81,000 as Inflation and AI Selloff Deepen

Bitcoin (BTC) briefly traded below $81,000 early Thursday, reaching about $80,400, as hotter-than-forecast September inflation and a widening technology selloff pressured markets across the United States and Asia.

At 7:36 a.m. ET (11:36 UTC), BTC was at $81,007.66, down 2.88% over 24 hours. At 6:16 a.m. ET (10:16 UTC), it had touched about $80,400, near the prior Thursday’s low of roughly $80,430.

Wednesday’s Consumer Price Index rose 0.6% from August and 3.7% over 12 months, up from 3.4% in August and above the 3.6% forecast. Core CPI, which excludes food and energy, increased to 2.6% year over year from 2.4%, topping a 2.5% forecast; it rose 0.3% month over month. The gasoline index jumped 9.1% and accounted for more than half of September’s monthly CPI increase.

Technology shares remained under pressure. The Nasdaq Composite fell 1.9% Wednesday, and South Korea’s Kospi sank 7.6% Thursday. The Federal Reserve’s next scheduled meeting is Oct. 27-28.