An unexpected U.S. CPI report drags global markets back into rate hike panic. Tech stocks in the U.S. fell first, followed by sharp declines in Japanese and Korean markets. Bitcoin briefly approached $80,000, with longs facing mass liquidations. The U.S. September headline CPI rose to 3.7% year-over-year, and core CPI climbed to 2.6% year-over-year, both exceeding expectations. Over the past 24 hours, the crypto market saw liquidations totaling approximately $954 million, with long positions accounting for over 92%. The rapid reversal in rate expectations quickly impacted risk assets. Walsh's speech on October 16 will be a key observation point ahead of the meeting. The market will continue to face dual pressures from interest rates and liquidity.