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Bitcoin plunges to $81,300 support as Fed hike odds hit 55% amid $100 million crypto wipeout
Bitcoin fell below $83,000 on Wednesday after hotter-than-expected US core inflation data revived expectations of further Federal Reserve interest rate hikes, triggering a fresh wave of liquidations across the cryptocurrency market. CoinGlass data showed over $100 million in leveraged positions were liquidated in the hour after the inflation report, pushing total liquidations above $220 million over 24 hours. Kalshi's prediction market indicated the probability of a 25-basis-point Fed hike in October rose to 55% from 21%. Lewis Huang, an analyst at Bitget, warned that $81,300 is Bitcoin's immediate support level, with a sustained decline below it potentially exposing the asset to further losses.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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