Live updates: Bitcoin treading water near $83,000 ahead of U.S. inflation data

Bitcoin's price is currently hovering around $83,000 as traders await the release of the U.S. inflation data for September.

The cryptocurrency briefly rose to $84,000 but quickly retreated as tech stocks struggled and a selloff in chip stocks continued.

Market participants are closely watching the Consumer Price Index (CPI) print, which is expected to provide insights into the direction of bitcoin's price in the near term.