Global crypto markets tumbled on Thursday after U.S. consumer‑price data revealed inflation running at 3.7% year‑over‑year, higher than most forecasts. Bitcoin fell below the $81,000 mark, while ether slid roughly twice as far, and the combined effect sparked nearly $1 billion in crypto‑futures liquidations, according to data cited by CoinDesk.
Inflation shock and Fed rate outlook
The hotter‑than‑expected CPI reading revived expectations that the Federal Reserve could raise its benchmark rate in October, with market odds for a hike briefly spiking to close to 50% before easing later in the session. Analysts linked the heightened rate‑hike probability to a sharp pullback in risk appetite, a pattern often seen after surprise inflation reports.
Crypto futures hit massive liquidations
CoinDesk reported that the liquidation wave was dominated by ether contracts, which accounted for almost 60% of the forced closures across the two largest crypto futures markets. Ether’s price decline was roughly double the percentage drop seen in bitcoin, underscoring the heightened leverage exposure in the altcoin market. Other major tokens also felt the pressure: XRP fell more than 2%, dogecoin dropped 3.3%, and Zcash slid 3.9% as traders scrambled to meet margin calls.
“Nearly $1 billion in crypto futures were liquidated in a single day, with ether accounting for almost 60% of those forced closures,” the CoinDesk analysis noted.
Crypto‑themed exchange‑traded funds mirrored the trend, with several ETFs posting double‑digit percentage losses, according to Moomoo’s market watch. The broader crypto equity sector, including U.S. crypto‑related stocks, also suffered under the weight of rising rate‑hike expectations.
Asian markets and broader risk‑off
The sell‑off extended to equity markets in the Asia‑Pacific region. South Korea’s Kospi plunged 8% and Japan’s Nikkei 225 fell about 5% during morning trading, as investors fled riskier assets. The slump in Asian equities coincided with a decline in U.S. Treasury yields after the CPI report, a move reported by Yahoo Finance, further confirming the shift toward a more defensive posture.
Technology shares added to the downward momentum, with major chipmakers Samsung and SK Hynix sliding more than 6% before the market opened, as highlighted by Bloomberg and Yahoo Finance Australia. The combined pressure on equities and crypto highlighted a synchronized risk‑off environment triggered by the inflation surprise.
Altcoin dynamics and technical signals
Beyond the headline tokens, several altcoins showed notable weakness. Bitget flagged that Shiba Inu completed a “death cross” on the four‑hour chart, a bearish technical pattern that often precedes further declines. Meanwhile, CryptoTicker emphasized that the 3.7% CPI figure is now the benchmark level that many analysts watch for its impact on Bitcoin’s price trajectory.
Despite the broad sell‑off, market participants remain divided on the depth of the correction. Some analysts, cited by Benzinga, argue that Bitcoin could test lower support near $65,000 if risk aversion persists, while others contend the current dip may simply represent a short‑term consolidation before a resumption of the uptrend.
The confluence of hotter‑than‑expected U.S. inflation, renewed Fed rate‑hike speculation, and a cascade of liquidations across crypto futures has underscored the market’s sensitivity to macroeconomic data. As traders reassess leverage positions and investors weigh the outlook for monetary policy, volatility is likely to remain elevated across both digital‑asset and traditional equity markets.
Market Snapshot
| Asset | Price | 24h | Market Cap |
|---|---|---|---|
 Bitcoin BTC | $80,972 | -2.92% | $1627.2B |
 Ethereum ETH | $2,364 | -5.58% | $288.6B |
 BNB BNB | $718.08 | -3.14% | $95.6B |
 XRP XRP | $1.31 | -4.65% | $82.4B |
 Solana SOL | $102.27 | -4.69% | $60.3B |
 Dogecoin DOGE | $0.0800 | -5.47% | $12.5B |
 Cardano ADA | $0.220 | -6.25% | $8.3B |
Live data: CoinGecko — 2026-10-15 07:20 UTC
