Key Notes
- Bitcoin reached $79,676.02 on Coinbase and $79,709 on Kraken before recovering above $80,000 during a volatile October 15 session.
- US producer inflation accelerated to 6.3% annually in September, while Bitcoin had already traded lower before the official data release.
- US spot Bitcoin and Ether ETFs lost a combined $390.97 million on October 14, reversing the previous session’s net inflows.
Bitcoin fell below $80,000 on Thursday, October 15, reaching $79,676.02 on Coinbase before recovering above the threshold. The latest reversal extended a volatile session that had already taken BTC below $81,000 overnight and lower again after stronger-than-expected US producer-inflation data.
At 14:14 UTC, Coinbase’s spot quote put Bitcoin at $81,071.21, while Ether traded at $2,370.43. Bitcoin’s recovery means the sub-$80,000 headline describes an intraday breach; the latest checked price was back above that level.
Kraken independently recorded a Bitcoin low of $79,709, corroborating the move on another major dollar market. The two exchanges have separate order books, which accounts for the small difference between their session lows.
Bitcoin Breaks $80,000, Then Recovers
Coinbase’s minute-by-minute data show a drop below $80,000 in the candle beginning at 13:53 UTC. That minute closed at $79,868.19, and the next closed lower at $79,790.86.
The session low arrived during the 13:55 UTC candle. Bitcoin then closed that minute back above $80,000 at $80,080.36, demonstrating how quickly the price crossed the threshold in both directions.
Measured from the $80,974.23 close immediately before the 12:30 UTC economic releases, the $79,676.02 low represented a decline of approximately 1.60%. That calculation describes the move from a specific pre-release reference price, rather than a rolling 24-hour return.
Thursday’s sequence has included several distinct phases:
- During the 02:00 UTC hour, Bitcoin reached an overnight Coinbase low of $80,125.
- At 07:32 UTC, our morning report recorded a recovery to about $81,032.
- Immediately after the 12:30 UTC data, Bitcoin moved toward $80,500.
- At 13:55 UTC, it reached the lower $79,676.02 trough before reclaiming $80,000.
The new low was about $449 below the overnight trough. Ether also remained below $2,400 in the latest spot check, a threshold it had crossed earlier in the day. Kraken’s market data provide a separate check on the Bitcoin and Ether trading ranges.
Hot PPI Follows Wednesday’s CPI Increase
The latest leg lower followed a sharp acceleration in US producer inflation. The Bureau of Labor Statistics reported that final-demand prices rose 1.3% in September and 6.3% over the year, with energy accounting for much of the monthly goods-price increase.
The annual result exceeded the 5.3% consensus tracked in our PPI coverage. August’s annual headline rate was revised to 5.6%, leaving September’s acceleration at 0.7 percentage point against the updated comparison.
Core PPI excluding food and energy rose 5.0% annually and 0.7% monthly. A broader measure that also removes trade services increased 0.5% monthly; the two underlying series should be kept separate when assessing the report.
Wednesday’s CPI release had already shown consumer prices rising 3.7% annually and 0.6% monthly. Producer and consumer inflation measure different parts of the economy, but both releases added to the price-pressure backdrop facing investors this week.
The timing is consistent with markets digesting new inflation information. It does not establish that PPI alone drove the entire sell-off: Bitcoin was already weaker overnight, and weekly jobless claims were released alongside producer prices.
ETF Withdrawals Add to the Demand Picture
US spot Bitcoin ETFs recorded $261.46 million in net outflows on October 14, according to SoSoValue’s Bitcoin dashboard. Ether funds lost another $129.51 million, taking combined withdrawals to $390.97 million.
Our ETF report detailed how Fidelity’s FBTC and BlackRock’s IBIT accounted for the largest Bitcoin withdrawals. Those completed-session figures describe Wednesday’s fund demand, rather than flows occurring during Thursday’s break below $80,000.
The reversal followed combined inflows of $200.46 million on October 13. One positive session therefore failed to establish a sustained change in the direction of capital moving through the two ETF groups.
A Rebound Within a Weaker October Market
The latest move also extends the volatility covered in our October 8 report, when Bitcoin fell below $81,000 before recovering. Thursday’s $79,676.02 low was below the $80,314.70 Coinbase trough recorded in that earlier episode.
In its earlier recovery outlook, Wintermute identified steadier long-term Treasury yields and renewed spot ETF inflows as conditions for a more durable improvement. That remains a conditional assessment, rather than confirmation that the rebound has resolved either issue.
For the current session, Bitcoin has recovered from its lowest verified trade while remaining exposed to the same inflation and fund-demand questions. Whether it can retain that recovery will become clearer through subsequent trading; a brief move back above $80,000 cannot establish the day’s closing price.
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