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Bitcoin (BTC) extended its losses on Thursday, falling below $81,000 as hotter-than-expected US inflation data weighed on market sentiment. Institutional demand also weakened, with US spot Bitcoin exchange-traded funds (ETFs) recording net outflows of more than $261 million on Wednesday.
Bitcoin fell below $82,000 on Wednesday, October 14, after the U.S. Bureau of Labor Statistics reported that consumer inflation accelerated to 3.7% in September
Bitcoin fell below $82,000 as spot ETF outflows, high Treasury yields and a stronger dollar pressured crypto ahead of the US CPI report.