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BREAKING: Bitcoin slips under $80K after US PPI gains most in four years

The US producer price index rose 1.3% in September, more than double the 0.5% forecast and the biggest monthly rise since March 2022, and Treasury yields fell anyway.

The 10-year yield dropped about 14 basis points to 5.04%, and traders cut their bets on an October 28 hike to a 27% chance, down from nearly 45% at one point on Wednesday.

Bitcoin still slipped under $80,000 for a few minutes, with the selling coming out of the AI trade.

South Korea's Kospi fell 7.5% on Thursday, led by chipmakers SK Hynix and Samsung, as worries grew about the debt funding the AI buildout.

A day earlier, CoreWeave (which rents out AI computing power) lost 16%, and Bitcoin miners that now host AI firms, like TeraWulf and IREN, fell more than 12%.

It bottomed around 10am New York time, then climbed 3% in 90 minutes to $82,200 as the Nasdaq clawed back its losses.

The drop wiped out about $860 million of leveraged bets on higher prices, CoinGlass data shows.

QCP Capital framed the Fed's problem as a choice between inflation that argues for more hikes and credit stress that argues for a rethink.

On Thursday the bond market leaned toward the rethink, and Bitcoin, which has spent months trading off the Fed's next move, bounced with it.

Bonds are betting against a hot number, though…

Producer prices are what businesses pay, and those costs tend to reach shoppers later, which could push October's consumer prices higher still.

San Francisco Fed president Mary Daly said more hikes are likely needed, but she sees no rush to act this month.

In July a chip selloff pulled Bitcoin down with it, but this time the AI scare also knocked down the bond yields that have been capping it. 🚀

Every time you fill up or open your power bill, an energy company gets paid. Gas prices just set an October record. Iran is firing on oil tankers in the Strait of Hormuz, and Russia's oil exports are getting choked off by attacks on its tankers and oil infrastructure.

Then there's AI. Data centers are pulling power off America's grid faster than anyone can build it, and tech giants are signing deals for entire power plants just to keep their servers running.

So the best performing sector of 2026 isn't tech, and it isn't AI. It's energy, up around 40% this year while most investors were busy chasing chip stocks.

We've found the #1 energy stock to end 2026 strong. Get it free, and we'll text you the name.

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Larry Fink has named the thing he thinks would push the US into a recession, and it's a pause on building data centres.

Fink is the founder and CEO of BlackRock, which manages more money than any firm on earth and runs the largest Bitcoin ETF in the world.

He told CNBC on Wednesday, after BlackRock beat earnings forecasts, that so much of the US economy now runs on the AI buildout that stopping it would be dangerous.

Wall Street analysts reckon AI spending could top $1 trillion in 2027 and pass $5 trillion by 2030, so a pause would take a lot of growth with it.

At least 100 localities had approved data centre moratoriums by July, and about $130 billion of projects were blocked or delayed in the first quarter.

Residents blame them for higher power bills, water use and strained grids, and the fight has reached the November 3 midterms.

Fink calls most of that misinformation and points to the jobs the buildout creates.

He's not a neutral observer, though… he wants private money funding the buildout and says BlackRock has talked to AMD and Broadcom about it.

Fink's second worry is the $40 trillion national debt, up from $8 trillion in 2000, and he says ever-larger bond auctions are soaking up credit the rest of the economy needs.

The data centre fight matters for Bitcoin, which has moved with AI stocks this week, and for the miners now renting their power and floor space to AI firms.

The debt plays out over years, because a government borrowing that much keeps leaning on newly created money, which is the long-run case for an asset capped at 21 million coins.

The AI trade has been moving Bitcoin, and from here voters get a say in where it goes. 🏗️

Today we'll be taking a look at the amount of wallets that hold at least some Bitcoin. (anything greater than 0)

This metric offers a bird's-eye view of user activity and adoption across the Bitcoin network.

But there's a slight catch…

One wallet does not equal one user. A user can have many wallets.

What matters here is the trend of the chart.

59,682,786 wallets now hold Bitcoin. That's 164,414 more than two weeks ago (59,518,372).

The gain makes up about a fifth of last fortnight's drop of almost 777,000.

It's still 612,214 short of the 60,295,000 it reached a month ago, and 172,622 below where it sat six weeks ago (59,855,408).

The count is rising again, from a lower base than it had in early September. 📈

Ledger’s answer to wallet tampering costs $849 and ships next year. The Atom device is built to detect tampering even when switched off, with shipments expected to start in summer 2027.

Russia Will Soon Ban Peer-to-Peer Bitcoin Trading, Central Bank Confirms. From July 1, 2027, Russians must buy and sell crypto through licensed brokers or registered exchanges rather than directly with each other.

Bitcoin mining pool once handling 2.3% of network shuts after hashrate falls 65%. Binance is closing Binance Pool on November 10, giving miners about four weeks to point their machines at another provider.

Starknet opens seven-day vote on independent Layer 1 over quantum risks. STRK holders are voting on whether Starknet should explore running its own chain, because its Ethereum bridge relies on Ethereum's quantum upgrade timeline.

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Because what would the crypto world be without its share of memes?

Trivia Answer: Checks every block and transaction against the rules 🥳

A full node downloads the whole blockchain and verifies every transaction for itself, rejecting anything that breaks the rules. It doesn't mine or earn anything, but it means you never have to trust someone else's copy of the ledger.

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