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Bitcoin tumbles below $83,000 as hot US September inflation revives Fed rate hike fears

Bitcoin fell below $83,000 after U.S. headline CPI inflation rose to 3.7% year-over-year in September, topping forecasts and reigniting expectations of further Federal Reserve interest rate hikes.

Bitcoin price chart graphic showing a steep downward plunge to $82,691.
Image: @BitcoinMagazine

Bitcoin dropped sharply on Oct. 14, falling below $83,000 as fresh macroeconomic data revealed elevated price pressures in the United States. The decline followed the release of the U.S. Consumer Price Index (CPI) for September, which rose 3.7% year-over-year against market expectations of 3.6%.[2][3][7]

The hotter-than-expected inflation figures quickly revived expectations of tighter monetary policy, with CoinDesk and Decrypt reporting that the data puts further Federal Reserve rate hikes back on the table. Following the release, Bitcoin Magazine noted that CME Group forecast an 87.3% chance of another Fed rate hike this year. Crypto Rover reported that traders are now pricing in three additional rate hikes before the end of 2027, while prediction market Kalshi saw its odds of an October rate increase surge from 21% to 55%, according to CryptoSlate.[1][2][3][5][6]

The rapid sell-off sparked more than $100 million in crypto liquidations within an hour and pressured spot demand, CryptoSlate reported. Cointelegraph noted the cryptocurrency extended its decline below $82,000 amid high oil prices driving the hot CPI print, while bond yields targeted fresh 24-year highs.[4][6]

Key facts

  • U.S. CPI inflation came in at 3.7% year-over-year in September, exceeding expectations of 3.6%.
  • Bitcoin fell below $83,000 following the release of the inflation data.
  • Cointelegraph reported Bitcoin dipped below $82,000 as bond yields targeted 24-year highs.
  • CME Group priced in an 87.3% chance of another Federal Reserve rate hike this year.
  • Kalshi odds for an October Federal Reserve rate hike jumped from 21% to 55%.
  • More than $100 million in crypto positions were liquidated within an hour of the market drop.

Sources 路 7 sources

  1. CR

    Crypto Rover@cryptoroverPost on X 路

    BREAKING: 馃毃 Bitcoin drops below $83,000 as hot U.S. CPI data fuels inflation fears. Traders are now pricing in 3 more Fed rate hikes before end of 2027. BEARISH FOR CRYPTO! https://t.co/UNPvOEUDvz

    Open source
  2. BM

    Bitcoin Magazine@BitcoinMagazinePost on X 路

    JUST IN: Bitcoin falls below $83,000 as U.S. CPI Inflation comes in hotter than expected at 3.7% YoY 馃嚭馃嚫 CME Group now forecasts an 87.3% chance of another rate hike this year 馃憖 https://t.co/MtNbvv5Iji

    Open source
  3. CO

    CoindeskArticle 路

    U.S. September CPI comes in hot, sending bitcoin sharply lower The news could put multiple rate hikes by the Federal Reserve back into play.

    Open source
  4. CT

    Coin TelegraphArticle 路

    Bitcoin price dips below $82K as high oil prices spike US CPI inflation Bitcoin fell below $82,000 while bond yields targeted new 24-year highs on the back of hot US CPI inflation.

    Open source
  5. DE

    Decrypt@DecryptMediaPost on X 路

    Bitcoin Falls as Hot Inflation Puts a Fed Hike Back on the Table https://t.co/jhH6lnyQHE

    Open source
  6. CR

    CryptoSlate@CryptoSlatePost on X 路

    $BTC fell below $83,000 as hotter US core inflation triggered over $100M in crypto liquidations within an hour. Kalshi鈥檚 October Fed hike odds jumped from 21% to 55%, putting Bitcoin鈥檚 recovering spot demand under pressure. via @hardeyjumoh https://t.co/iI0pxl1VpL

    Open source
  7. CO

    CoinDesk@CoinDeskPost on X 路

    NEW: U.S. inflation rises to 3.7% in September, above expectations of 3.6%, sending bitcoin (bitcoin:native) sharply lower and raising the prospect of further Fed rate hikes. https://t.co/MOa1BW2mit

    Open source