Bitcoin fell below $81,000 on October 15 after hotter U.S. inflation data, a selloff in Asian stocks and about $483 million in futures liquidations. One analyst names $80,108 as the support level to watch, with $65,000 as a conditional downside target.
Bitcoin fell below $81,000 on October 15, losing more than 3% in 24 hours. Hotter U.S. inflation data, falling Asian stocks and approximately $483 million in Bitcoin and Ethereum futures liquidations weighed on the market.
CoinGecko data showed Bitcoin near $80,664 during Thursday's Asian session, down 3.21% over 24 hours and 2.53% over seven days. Daily trading volume was approximately $40.43 billion.
Inflation report revives rate-hike worries
The U.S. Bureau of Labor Statistics reported that consumer prices rose 3.7% over the 12 months ending in September, above August's 3.4%. Monthly inflation climbed 0.6%, and economists had expected a smaller increase in the monthly core reading.
The figures prompted renewed speculation that the Federal Reserve could raise interest rates. The source adds that inflation data alone does not establish the cause of Bitcoin's price movements.
Equities fell too. South Korea's Kospi dropped approximately 8% in morning trading, and Japan's Nikkei 225 declined around 5%. Coinpedia separately reported that Kospi fell 9.00% intraday to 5,467.66 and that South Korea's financial regulator would hold an emergency meeting.
Ether traders take the heavier liquidations
According to CoinGlass, Ethereum traders recorded roughly $286 million in liquidations, while Bitcoin contracts accounted for approximately $197 million. Ether did so despite a smaller futures market: outstanding Ethereum futures stood near $30 billion, against approximately $52 billion for Bitcoin.
Ether fell roughly 6.4% toward $2,356, while Solana dropped approximately 5.5%. Coinpedia, however, put total crypto market capitalisation at $2.831 trillion, down 2.7%.
Analyst eyes $80,108 support and a possible $65,000 drop
Analyst Crypto Patel warned that Bitcoin was testing an important technical level near $80,108 after falling from approximately $87,360 to $80,200. He wrote that a breakdown below that level "could open the door to the 70K–65K downside zone".
The projection remains conditional. On the daily chart, the RSI measured 43.92, below the neutral 50 level, though it stayed above 30, the level commonly used to identify oversold conditions.
Not every reading is bearish. CryptoQuant data cited by Coinpedia showed 84% of 164 tracked market experts holding a bullish view on BTC, up from 37% in July.
Sources: crypto.news, Coinpedia Fintech News
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