Bitcoin Sinks to $82k Amid Inflation Fears and Elevated Yields

Bitcoin took a hit on Tuesday, falling to an intraday low of $82,775.94 as investors digested recent US economic data.

The news came after the Bureau of Labor Statistics reported that job openings eased slightly in August, but the Conference Board's consumer confidence index fell sharply to 81.9 from 88.6 in August.

The survey showed that consumers are increasingly worried about inflation and interest rates, with a record-high 68.4% expecting higher rates over the next 12 months.

Average expected inflation over that horizon rose to 6.1%, while the median rose to 5.1%.

The Treasury daily par yield curve data showed yields remaining elevated, which could continue to weigh on Bitcoin's price.