Bitcoin experienced significant volatility this week, briefly falling below the critical $80,000 level before recovering. According to reports from crypto.news, Bitcoin's 24-hour low was placed at $79,805.99 before recovering to roughly $82,035. The cryptocurrency rebounded above $82,000 after Thursday's decline, though it remained below the $84,000 area watched by market analysts. The price movement coincided with September U.S. consumer inflation data showing 3.7%, above the 3.6% forecast, while annual producer inflation reached 6.3%. Latest data shows Bitcoin dipped below $80,000 for the first time in about a month, with the asset trading at $81,430 as of press time, representing a 1% weekly decline.
Ledger implemented strict security measures on October 15 following the discovery of a sophisticated hardware attack. As reported by crypto.news, criminals had opened genuine devices, installed hidden components, and returned them to distribution channels. The implants captured recovery phrases during setup, allowing attackers to access users' funds. In response, Ledger requested a reseller sales suspension in Southeast Asia and Hong Kong, prohibited resale of returned devices, and ordered retailers to keep stock away from shelves and displays. The company confirmed that its chips, operating system and servers were not compromised, with devices sampled from stores and warehouses found to be clean.
The latest inflation readings from CPI and PPI metrics released on Wednesday and Thursday significantly impacted Bitcoin's performance. According to crypto.news, both CPI and PPI showed notable increases month-over-month and year-over-year, with the PPI reading showing the largest monthly increase in well over four years. The cryptocurrency reacted with immediate selling pressure, first dropping to $82,000 after the CPI reading before the PPI data brought it to its knees. Bitcoin tried to rebound immediately and neared $83,000 earlier today, but was stopped and pushed south to $81,500 as of press time.
Despite Bitcoin's decline, the broader cryptocurrency market showed mixed performance with some altcoins outperforming. As reported by crypto.news, Bitcoin's market cap stands at $2.860 trillion with a 24-hour trading volume of $84 billion. BTC maintains a 57.6% dominance in the crypto market. Among major altcoins, XRP declined 3.4% to $1.32, while ETH fell 1% to $2,440. However, some altcoins showed strong performance with NEAR soaring by almost 10% since last Friday, and BTW up by 23%. The volatility reflects broader market uncertainty amid the inflation data releases.
The Office of the Comptroller of the Currency identified restrictive bank policies in a review of nine major lenders, with all maintaining relevant policies between 2020 and September 2025. According to crypto.news, the regulator noted that digital asset issuers, exchanges and administrators were among affected businesses. The CFTC proposed classifying certain event contracts as swaps, including sports, politics, cultural and weather contracts, with a 30-day comment period provided after publication in the Federal Register.
