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Source: Newsmaker.id
Bitcoin came under renewed pressure during Thursday’s trading session (October 15) after U.S. inflation data, which came in higher than anticipated, fueled concerns regarding potential interest rate hikes by the Federal Reserve. Bitcoin was trading at approximately US$80,600, having previously dipped toward the US$80,360 level. Market data indicates that major crypto assets have remained under pressure throughout the day’s trading.
The pressure on Bitcoin began to mount on Wednesday following the release of U.S. Consumer Price Index (CPI) data, which showed an annual inflation rate of 3.7% for September—exceeding the 3.6% expectation. This has led the market to reassess the likelihood of a Federal Reserve interest rate hike at its October meeting. Higher interest rates typically dampen investor appetite for risk assets, such as cryptocurrencies.
Other major crypto assets have also faced downward pressure. Ethereum is trading around US$2,420, Solana near US$104, XRP around US$1.33, and BNB in the vicinity of US$730. Recent trading data confirms that Ethereum, XRP, and Solana have all weakened, signaling that the pressure is not limited to Bitcoin but has extended to the broader altcoin market.
Negative sentiment has been further compounded by weakness in global stock markets. The Nasdaq and S&P 500 saw sharp declines in the previous session as investors reduced their exposure to technology stocks and the AI sector. In Asia, the pressure was even more pronounced, with the KOSPI index falling 7.5%; shares of Samsung Electronics and SK Hynix plummeted by 9.5% and 11%, respectively. These conditions suggest that investors are actively de-risking across various asset classes.
The future trajectory of cryptocurrencies will depend heavily on expectations regarding U.S. interest rates and Bitcoin’s ability to hold the US$80,000 support level. Should pressure from the U.S. dollar, bond yields, and Federal Reserve policy continue to intensify, volatility for both Bitcoin and altcoins is likely to remain elevated. Conversely, if the market begins to perceive more limited prospects for monetary tightening, crypto assets could find room for a recovery.
Newsmaker Analysis: The current pressure on Bitcoin and the broader crypto market stems primarily from shifting expectations regarding Federal Reserve interest rates, following a US Consumer Price Index (CPI) reading that came in hotter than anticipated. As long as the likelihood of interest rate hikes remains elevated, investors are likely to become more selective toward risk assets; consequently, Bitcoin may continue to exhibit volatility around the US$80,000 level. Weakness in global technology stocks has served as an additional headwind for crypto, while the market's next direction will depend heavily on upcoming US Producer Price Index (PPI) data and evolving expectations regarding Federal Reserve policy.
Source: Newsmaker.id