Bitcoin falls 3.6% as US wholesale inflation jumps 1.3% in September

Bitcoin fell 3.6% to around $81,500 on Thursday after US wholesale inflation jumped 1.3% in September, raising concerns about the Federal Reserve's next interest rate decision. The Producer Price Index increase, reported by the Bureau of Labor Statistics on October 15, far exceeded the revised 0.5% rise from August. Yearly wholesale prices climbed 6.3%, the fastest since December 2022. Energy prices drove the surge, jumping 10.8%, with gasoline up 20.3%. Bitcoin dropped below its 50-day moving average, hitting a 24-hour low of $80,443. The Fed's October 27-28 meeting remains uncertain, with markets pricing a 34% chance of a rate increase. Bitcoin ETF inflows had slowed to $82.9 million in early October, down from $2.39 billion the prior week.