Bitcoin fell below $83,000 on Wednesday after hotter-than-expected US inflation data triggered over $100 million in leveraged position liquidations within an hour. Core inflation accelerated to 2.6% year-over-year from 2.4% the previous month, marking the 67th consecutive month US inflation has stayed above the Fed’s 2% target. The odds of a 25 basis point Fed rate hike in October surged from 21% to 55%, while 10-year Treasury yields rose 7 to 9 basis points. Bitcoin now faces a critical $81,300 support level, with further losses possible if bond yields and the dollar continue rising.
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