Bitcoin Slumps as US Inflation Worries Hit New High

Bitcoin (BTC) fell to an intraday low of $82,775.94 on Tuesday as rising worries about inflation and interest rates weighed on the market.

The drop follows a rally that took Bitcoin to an eight-month high of $87,400.

A new report from the Bureau of Labor Statistics showed US job openings were little changed at 7.1 million in August, down from a revised 7.3 million in July.

However, consumer surveys told a different story, with the Conference Board's September consumer confidence index falling to 81.9 from 88.6 in August.

The share of consumers expecting higher interest rates over the next year rose to 68.4%, and average expected inflation climbed to 6.1%.