Bitcoin price today: Why BTC USD fell near $73,000 after US CPI report and could it crash to $70,000 next?
- The Bureau of Labor Statistics releases the consumer price index Tuesday at 8:30 a.m., with forecasts showing a 0.3% increase for all items despite gasoline prices declining more than 4%.
- Chicago Fed President Austan Goolsbee warned Monday that inflation remains a primary concern, with officials worried about "sticky" price pressures in services, health insurance, and autos beyond sectors directly affected by tariffs.
- Economic growth remains strong at 3.4% with 165,000 nonfarm payrolls added in October, while markets price in an 80% probability of a rate hike at the December Federal Open Market Committee meeting.
- Bitcoin changed hands at around $74,750, down from peaks above $87,000 in early October as AI-related jitters and fading spot ETF demand weighed on the cryptocurrency.
- Investors await producer price data on Nov. 13 and Federal Reserve meeting minutes on Nov. 18. BofA economist Stephen Juneau said this report could "effectively lock in another 25bp hike.
39 Articles
39 Articles
Crypto Market Today, Nov. 10: Bitcoin Slides Below $74,000 as Hot Inflation Data Sends Crypto Markets Tumbling
Crypto markets extended losses as hotter-than-expected inflation hit Wall Street, raising fresh concerns about interest rates and the outlook for risk assets.
THE value of bitcoin has fallen to a three-month low on higher US inflation, fueling fears of further interest rate rises and reducing demand for risky assets.
The Economic Times
Times of IndiaBitcoin price today: Why BTC USD fell near $73,000 after US CPI report and could it crash to $70,000 next?
Bitcoin price today after CPI report: BTC USD price has dropped to $73,000 following a US inflation report indicating higher-than-expected consumer prices, raising fears of more aggressive interest rate hikes from the Federal Reserve. Explore the financial implications and future projections for Bitcoin.
The bitcoin retreats on Tuesday (10), after consumer inflation in the United States came above expected and reinforced the high interest bets by the Federal Reserve (Fed) in December. The consumer price index (CPI) rose by 0.4% in October, above the projection of 0.3%, while the core advanced by 0.3%, also above expected, by 0.2%. After disclosure, the bitcoin fell from about US$ 74.4 thousand to US$ 73.5 thousand, according to Vault Capital. Th…
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