Live updates: Bitcoin falls from near $84,000 ahead of US inflation data

With tech stocks slipping and chip sales rising, Bitcoin's brief dip below $84,000 wiped out in under an hour. Traders are waiting for the September CPI print.

A brief bounce to $84,000 early Wednesday faded within an hour, and bitcoin fell 0.5 percent to around $83,200. It remains between the 50-day moving average near $81,000 and the $84,000 ceiling.

The 50-day moving average is the average of Bitcoin's closing price over the past 50 days, and traders look at it for medium-term trends. Buyers rallied on Tuesday, when bitcoin reached near $81,000, but have since failed to push above $84,000.

ZEC and TRX were the only major gainers, up around 1%. HYPE lagged behind, falling 2% to around $81. SOL fell 1.4 percent and Ether fell 1 percent to under $2,500, according to CoinDesk data.

Bitcoin trades close to the Nasdaq 100 in terms of how institutions risk their ratings, and "the caution of the latter is preventing Bitcoin from spreading its wings," said Alex Kopetsikovich, senior market analyst at FxPro.

Nasdaq 100 futures were little changed and ETF-tracking chipmakers pointed to another day of selling even after ASML rose more than 2 percent in Europe. The chip equipment maker said it would not be able to fully meet demand for the next two years. Bank of America and Morgan Stanley reported late on Wednesday, and forecasts indicated that the September US inflation report would show a decline in core prices.

A daily close above $84,000 is the first sign that buyers are out of bounds.