The crypto market fell on Thursday, October 15, as inflation concerns, falling Asian equities, and ETF withdrawals weighed on prices. The total crypto market value fell by about 3% to $2.71 trillion, and Bitcoin was trading at less than $81,000 during the session.
Despite the latest price drop of key digital assets, the Fear and Greed Index showed neutral sentiment with a score of 49.
Bitcoin price consolidated around $80,900 as it neared the $80,000 mark, with inflation fears keeping traders on the defensive about a quick turnaround. Ethereum also dropped below $2,400, and dipped just under $2,350 as investors pulled out of riskier bets.
XRP price was trading around $1.32, while major altcoins were all seeing negative momentum as traders adjusted to risk ahead of next inflation data from the United States.
Leveraged trading added pressure, with CryptoQuant reporting $106 million in Binance Ethereum long liquidations within one hour. Those liquidations followed Wednesday’s inflation release, highlighting how forced position closures can intensify selling after a sudden price decline.
September’s annual US inflation rate rose to 3.7%, compared with 3.4% in August, according to government data released Wednesday. Core inflation, which excludes food and energy, increased to 2.6% annually, while headline consumer prices rose 0.6% during September.
Almost $1.3 Trillion has been wiped out from the stocks, metals, and crypto in just 2 hours.
1. US CPI hits a 4-month high, while the Core CPI hits a 3-month high.
The figures strengthened concerns that the Federal Reserve could raise borrowing costs again, reducing demand for speculative investments. Rate-hike expectations briefly approached even odds before easing, while the dollar retreated from an 18-month high.
Asian equities extended the global retreat, with South Korea’s KOSPI sliding almost 8% and Japan’s Nikkei dropping around 5%. Technology shares faced particularly heavy selling as investors questioned elevated valuations and the financing costs behind artificial intelligence expansion.
Higher US inflation data increased Fed rate hike fears and triggered a broad sell-off across Asian markets.
🇹🇼 Taiwan’s stock market -1.5%, wiping out NT$1.8T ($54B).
Attention then turned toward September’s US Producer Price Index, scheduled for Thursday at 8:30 a.m. Eastern Time. Economists expected annual producer inflation of 5.3%, slightly below the previous reading of 5.4%, according to TradingCharts’ economic calendar.
A stronger reading could reinforce tightening concerns, while softer numbers might ease pressure across the crypto market and equities.
US spot Bitcoin and Ethereum ETFs recorded approximately $391 million in net withdrawals on October 14, according to SoSoValue. Bitcoin funds accounted for about $261 million in outflows, indicating weaker demand through these regulated cryptocurrency investment products.
According to SoSoValue, U.S. spot Bitcoin ETFs recorded $261 million in net outflows on October 14, with Bitwise’s BITB posting the largest inflow at $2.22 million. Spot Ethereum ETFs saw $130 million in net outflows, led by BlackRock’s ETHA with $110 million. https://t.co/4HW9quMOVz
Bitwise’s BITB attracted $2.22 million in net inflows, although those subscriptions failed to offset withdrawals elsewhere within the category. Ethereum ETFs lost approximately $130 million, with BlackRock’s ETHA recording $110 million in redemptions and driving most category outflows.
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