Bitcoin falls back to $81,500 after inflation rises more than forecast

Bitcoin fell to around $81,500, near its session low and down 2% over the past 24 hours, after a US inflation report came in higher than forecast, according to market updates published during the trading day.

The weakness was not confined to digital assets. The Nasdaq extended its decline to more than 2% about 90 minutes before the close, with the Mag 7 technology names lower across the board apart from Apple, which showed a small gain. Nvidia and Meta each fell 3.3%, Tesla was off 2.7% and Amazon down 2%, the updates said.

Crypto-linked equities recorded sharper moves. Coinbase was down 5.3%, Robinhood 8.9%, Bullish 5.1%, Circle 6.7%, Galaxy Digital 9% and Strategy 6%, according to the same updates.

Bond yields offered no explanation for the equity retreat. The 10-year US Treasury yield was lower by 3 basis points at 5.18% despite the disappointing inflation report, as money moved out of equities and into fixed income, the updates noted.