Bitcoin Nears $80,400 as Core Inflation Tops Forecasts

Bitcoin (BTC) fell below $81,000 to about $80,400 on Thursday, extending a retreat from nearly $84,000 as hotter-than-expected U.S. inflation and an AI stock selloff weighed on markets.

Core inflation in September reached 2.6%, above the 2.5% forecast, adding to expectations for Federal Reserve rate hikes. Nasdaq 100 futures fell 1.2% as selling in AI shares intensified.

Bitcoin was down 2.6% over 24 hours, putting it near last Thursday’s low of about $80,430. It had rebounded to nearly $84,000 on Wednesday before turning lower.

Losses spread across crypto markets. Ether (ETH) fell 5% to about $2,370, and Zcash (ZEC) dropped 11% to roughly $1,100. U.S. spot Bitcoin ETFs recorded about $261 million in net outflows on Wednesday.

Buyers had defended around $80,400 twice since last Thursday. A daily close below that mark would put Bitcoin beneath the level.