Bitcoin Slides Under $81,000 as $972M Liquidation Wave Hits Crypto

The cryptocurrency market extended its losses on October 15, shedding 3.77% of its value as total capitalization fell to approximately $2.7 trillion, according to CoinMarketCap. Bitcoin traded near $80,730 during the early European session, while Ethereum and several major altcoins experienced steeper percentage declines. The sell-off followed stronger-than-expected U.S. inflation data released on Wednesday. The Bureau of Labor Statistics reported that consumer prices rose 0.6% in September, pushing annual inflation to 3.7%. The figures renewed concerns that persistent price pressures could limit the Federal Reserve’s room to ease monetary policy, weighing on investors’ appetite for risk.

Source: Crypto News Flash