- Bitcoin fell below $81,000, trading near $80,764 as of late Asian hours on October 15.
- Nearly $1 billion in leveraged positions were liquidated, with ether accounting for the majority of losses.
- U.S. CPI rose 3.7% year-over-year in September, hotter than expected, reviving rate hike concerns.
- Asian equities tumbled, with South Korea’s Kospi dropping over 7% and triggering circuit breakers.
Bitcoin slid below the $81,000 level during Asian trading hours on Thursday, October 15, as hotter-than-expected U.S. inflation data and a broad risk-off move in equities triggered nearly $1 billion in crypto liquidations.
According to CoinDesk, bitcoin declined roughly 3% to around $81,000 over 24 hours, while ether fell more than 6% to about $2,350. The Block reported bitcoin down 3.6% to $80,764 and ether down 6.5% to $2,353 as of 11:50 p.m. ET.
Liquidations hit hard on leveraged longs. CoinDesk, citing CoinGlass data, put bitcoin and ether futures liquidations at nearly $483 million over 24 hours, with ether accounting for about $286 million — nearly 60% of the pair’s total — versus $197 million for bitcoin. Broader reports pointed to total crypto liquidations approaching $1 billion, overwhelmingly from long positions.
The selloff followed the release of September’s Consumer Price Index. The U.S. Bureau of Labor Statistics reported the CPI rose 0.6% month-over-month and 3.7% year-over-year, up from 3.4% in August. Core CPI increased 0.3% monthly and 2.6% annually. Gasoline prices jumped sharply, accounting for a large share of the headline increase and stoking concerns that the Federal Reserve could keep rates higher for longer or even hike again.
Risk-off sentiment spread to Asia. South Korea’s Kospi plunged more than 7%, closing down 7.57% at 5,554.22 after triggering a circuit breaker, according to Reuters. Chipmakers Samsung and SK hynix led the decline amid AI investment concerns and sticky inflation. Japan’s Nikkei also fell sharply during the session.
Traders and investors now watch whether bitcoin can hold support near $80,000. Persistent inflation and elevated yields continue to pressure risk assets, while liquidations can amplify short-term volatility. Ether’s outsized liquidation share highlights its higher leverage relative to its open interest of roughly $30 billion versus bitcoin’s $52 billion.
