Bitcoin recovered to about $81,200 as a weakening momentum reading raised questions about the rebound and potential volatility in altcoins.
BTC was quoted at 79,991.48 USDT, or 8.52 USDT below the threshold.
Gasoline producer prices rose 20.3% in September, while prediction-market traders assigned a 72.5% chance to a Fed rate hold.
The Binance spot reading was $80,649 15 minutes earlier, while BTC was down 1.04% over one hour.
In a note to investors, Matt Hougan used a “Choose Your Own Adventure” framework to argue that superabundance, an AI bust or a muddle-through economy all ultimately funnel to the same place: Bitcoin higher.
Liquidations across three exchanges totaled $22.94 million as Bitcoin fell from $80,706 to $79,869.
The company maintained 10 exahashes per second (EH/s) of deployed hashrate outside joint ventures.
Bitwise Chief Investment Officer Matt Hougan argued in a Wednesday memo that BTC will rise whether AI delivers a boom, a bubble burst, or something in between.
Monthly fees rose from 94.1523 BTC in July to 98.4015 BTC in August, then fell to 87.5343 BTC in September.
Month-end holdings totaled 1.88K BTC. Non-JV installed and operating hashrate remained at 10 EH/s.
He also named potential Fed policy shifts, U.S. government purchases and stimulus, and described ETF demand as supportive.
As the Bank of Russia moves to regulate the mainstream adoption of cryptocurrency in the country through the Federal Law No. 282-FZ, which sets the legal rules for cryptocurrencies and digital rights in Russia, the central bank has established that transactions must be conducted strictly through state-supervised intermediaries and organized trading.