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Bitcoin Drops Below $74,000 Following October US Inflation Data
The cryptocurrency fell 1.39% to $73,652 after the Consumer Price Index report indicated persistent inflationary pressures.
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Bitcoin declined after US September CPI data came in above market expectations, with selling pressure already present before the official release. It fell below $74,000, setting a new low relative to the previously reported $76,000 level, and reached the high-$73,000s after October core inflation exceeded forecasts. Bitcoin swung by more than $1,100 within five minutes of the Bureau of Labor Statistics release.
The cryptocurrency fell 1.39% to $73,652 after the Consumer Price Index report indicated persistent inflationary pressures.
Read the full story