Bitcoin Drops 1.5% and Tests $79,500 Support Following Elevated U.S. PCE Inflation

Bitcoin traded lower, falling 1.5% and finding support at $79,500 amid broad risk-off sentiment across equities and commodities. The downturn followed the release of the September U.S. Personal Consumption Expenditures index, which climbed 3.6% year-over-year and 0.5% month-over-month. Although the figures matched forecasts, annual inflation accelerated from August's 3.4% rate. Bitcoin initially jumped to an intraday high of $81,000 before reversing gains as prediction markets priced in a 78% probability of a December Federal Reserve rate hike.