The catalyst was September U.S. consumer price data released Wednesday. The headline CPI rose 3.7% year-over-year, up from 3.4% in August and above the 3.6% consensus forecast. The monthly increase of 0.6% was the fastest since April. Core CPI also exceeded expectations, reviving concerns that the Federal Reserve may resume interest-rate hikes. Higher yields and a stronger dollar have tightened financial conditions across global markets.
The International Monetary Fund warned Thursday that Asia's heavy reliance on the AI-driven technology boom poses disproportionate correction risks given the region's central role in global semiconductor supply chains. Bitcoin's short-term moving averages remain bearish, though longer-term indicators offer some support. Ether declined 6.5% to $2,353 over the same 24-hour window, while Zcash led major-cryptocurrency losses with a 12.8% drop.
With the Kospi in its longest losing streak in over a year and U.S. inflation running hotter than expected, the question becomes whether Bitcoin can hold the $80,000 level if risk-off momentum extends into U.S. trading hours.
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