Bitcoin rebounds after hot PPI; Fidelity notes real-rate link, Glassnode says $80,000 support erodes

Bitcoin briefly fell below $80,000 on Oct. 15 after U.S. producer inflation came in hotter than expected, then recovered to roughly $82,000–$83,000 on Oct. 16, according to reports. September producer prices rose 6.3% year over year, versus expectations of 5.3%, one report said ^{[1] [2] [3] [4]}.

Fidelity said Bitcoin’s correlation with 10-year Treasury real rates had reached a new high, and linked the shift to the U.S. debt burden, which it put above $40 trillion ^[1].

Glassnode said the $80,000 level had held once but was eroding as support ^[5].