Bitcoin dropped to just over $80,000 on most exchanges, testing this key support level for the first time in nearly a month. This decline followed a stock market crash in Asia, with South Korea’s KOSPI index down over 18.5% in five days and Japan’s Nikkei 225 losing approximately 6% in 24 hours. September CPI data, slightly above expectations, amplified the bearish pressure by raising the probability of a Fed rate hike to 50%. The ETF market also experienced a sharp reversal, shifting from $175.62 million in positive flows to $261.46 million in outflows, while over $960 million in leveraged positions were liquidated in a single day.
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