Bitcoin drops to $81,000 as US inflation data hits crypto market

The cryptocurrency market fell on October 15, with Bitcoin dropping to $81,000 and total market capitalization declining 3.7% to $2.7 trillion over 24 hours. The decline was triggered by strong U.S. inflation data released Wednesday, with the Consumer Price Index rising 3.7% in September, moving further from the Federal Reserve's 2.0% target. Forced liquidations totaling $938 million and ETF outflows amplified the selloff. Rising inflation, partly driven by geopolitical conflicts pushing oil prices above $100, has increased Treasury yields and raised Polymarket odds of a Fed rate hike before December to over 80%. Altcoins including Raydium, Zcash, Lighter, and Starknet fell more than 12%.