Bitcoin fell below $82,000 on Wednesday morning, October 14, dropping to a low of $81,500 after hotter than expected US inflation data. The Consumer Price Index rose 3.7% year-over-year in September, exceeding expectations of 3.6% and accelerating from 3.4% in August. These figures raised the odds of a Federal Reserve rate hike in October to 41.5%, up from around 22% the previous day. Long liquidations in the crypto market exceeded $250 million over 24 hours, according to CoinGlass data. The broader crypto market declined nearly 2%, bringing its total capitalization to approximately $2.75 trillion.
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