Bitcoin falls below $81,000 after hot US inflation: $942 million liquidated and a "Black Thursday" in Korea

What the inflation report showed

The Bureau of Labor Statistics released the US consumer price report for September on Wednesday, October 14. Prices rose 0.6% for the month after 0.4% in August, and 3.7% over the year. Annual inflation was 3.4% in August, and economists had expected 3.6%.

Gasoline accounted for more than half of the monthly increase: it rose 9.1% for the month and 34.2% over the year. Energy as a whole gained 5.2% for the month. Core inflation, which excludes food and energy, rose 0.3% for the month and 2.6% over the year, also slightly above the 2.5% forecast.

Why bitcoin fell on these numbers

The link is the same as with the jobs report, only in reverse. On September 16, the Fed raised rates for the first time since 2023, to 3.75–4%. Weak jobs data on October 2 convinced the market that there would be no second hike in October, and bitcoin jumped to almost $87,000. We covered this in our article on how bitcoin reacted to the jobs report. Hot inflation put a hike back into the calculations.

According to CME FedWatch data cited by CoinDesk, the odds of a hike at the October 27–28 meeting jumped from about 22% to almost 47% after the report. By Thursday morning they had eased back to 26%: the market still thinks the Fed will most likely leave rates unchanged, but it is no longer sure. On the prediction market Polymarket, the odds of a hike briefly reached almost 50%. "With the next FOMC a coin flip, this uncertainty is damaging liquidity and dampening risk appetite across all asset classes," Anderson of STS Digital told CoinDesk.

Before the report, bitcoin held around $83,000. After the release it slipped below $82,000, and during Asian trading hours on Thursday it came close to $80,000. As of 09:18 UTC on October 15, according to CoinGecko, bitcoin trades at about $81,200, 2.6% lower than a day earlier and roughly 36% below its record of $126,080 set on October 6, 2025.

Who lost the most: ether and leverage

Altcoins fell harder than bitcoin. Per CoinGecko, ether lost more than 5% in a day and trades at about $2,370, XRP and Solana lost about 4%, and Zcash, which only recently returned to the top 10 coins, lost about 11%. Monero lost less than 2% over the same day.

There were plenty of liquidations. According to CoinGlass data cited by Crypto Adventure, about $942 million in positions across the crypto market were force-closed in the 24 hours to Thursday morning. Of that, $863 million, more than 91%, came from longs, that is, from traders who had bet on a rise with leverage. About $489 million was wiped out in a single hour. The largest single liquidation was a $12 million long on the BTC/USDT pair. Ether accounted for about $283 million in liquidations and bitcoin for about $196 million. CoinDesk, using its own data, counted $483 million in BTC and ETH futures alone, so the figures depend on the time window and the set of coins, but the order of magnitude is the same.

A liquidation happens when the price moves against a leveraged position and the collateral is no longer enough: the exchange closes the trade itself and sells at market. Each such sale pushes the price lower and hits the next traders in line. Someone who simply bought coins and holds them in their own wallet has no reason to fear liquidation, since there is nothing to close. Our crypto exchange has no leverage: one coin is swapped for another and arrives at your address.

A selloff beyond crypto: "Black Thursday" in Korea

Crypto was not falling alone. On Wednesday the Nasdaq lost about 2%, and on Thursday morning its futures were another 1% lower. South Korea's market had it worst: the Kospi index fell 8%, and at 12:38 local time the exchange halted trading for 20 minutes. It was the tenth such halt this year. The index closed 7.57% lower, at its lowest level since April. Chipmakers dragged it down: SK Hynix lost more than 11% and Samsung Electronics about 9.5%, as doubts about AI investment added to the US inflation news.

US spot bitcoin ETFs saw outflows of $150.5 million on October 14, according to CoinDesk, after inflows of $175.7 million the day before.

What comes next: levels and calendar

Analysts disagree. Paul Howard of Wincent told The Block he expects bitcoin to stay in the $80,000–88,000 range for now, while a break below $80,000 could open the way to $75,000. Matt Mena of 21Shares believes the market already priced in most of the downside last week and sees better odds of a return above $85,000. We do not make forecasts: below are only the dates that will shape where the market swings next.

1. October 27–28: Fed meeting, with the rate decision announced on October 28.
2. Early November: the jobs report for October.
3. Mid-November: the inflation report for October.

While the rate path is in question, bitcoin will react to every figure on prices and jobs more strongly than to news from crypto itself.

How to buy bitcoin without an exchange account on VertEXchange

If you keep your savings in stablecoins and are thinking of adding bitcoin on the dip, you can do it without an exchange and without leverage. VertEXchange has no accounts, no email and no phone number: you enter your wallet address and send your coins, and the bitcoin arrives right there. For example, you can buy bitcoin with USDT on TRON, and ether holders can exchange ETH to BTC without registration instead of waiting for ether to recover from the drop.

• The rate and the amount you will receive are shown before you send, and a fixed rate holds for about 15 minutes.
• Coins go straight to your address, and the service does not hold them.
• If the exchange does not go through, the coins are returned to your refund address.
• Personal fields of an operation are deleted 24 hours after it is completed.
• Support chat is available on every page, by your exchange code.

Holding coins in your own wallet means you depend neither on liquidations nor on whether an exchange keeps withdrawals open on a turbulent day. We explained how such a wallet differs from an exchange wallet in our article on custodial vs non-custodial wallets.

FAQ

Why did bitcoin drop on October 14?

US inflation for September came in above forecast: 3.7% over the year versus the expected 3.6%. The market feared the Fed could raise rates as early as October 28 and sold risky assets. Liquidations of leveraged positions made the drop worse.

How much was liquidated in the crypto market?

According to CoinGlass, about $942 million in the 24 hours to the morning of October 15, more than 91% of it in longs. Ether accounted for the most, about $283 million, and bitcoin for about $196 million.

Will the Fed raise rates in October?

Nobody knows. After the report, the odds of a hike on CME FedWatch reached almost 47%, and by the morning of October 15 they had fallen to 26%. The decision will be announced on October 28.

Why did ether fall more than bitcoin?

Ether saw more liquidations than any other coin: there are many leveraged ETH positions open, and closing them weighed on the price. Ether lost more than 5% in a day, bitcoin about 2.6%.

How to buy bitcoin without an exchange?

Enter your bitcoin wallet address, check the rate and the amount you will receive, and send USDT or another coin to the exchange address. The bitcoin will arrive straight at your address, with no account, email or ID documents.