Bitcoin price today: Why BTC USD fell near $73,000 after US CPI report and could it crash to $70,000 next?
Hotter October consumer prices lifted Treasury yields and rate expectations, while U.S. spot Bitcoin ETFs logged about $1.28 billion in net outflows, analysts said.
- 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.
70 Articles
70 Articles
The US Federal Reserve Fed could raise key interest rates in December, pushing the cryptocurrency.
Bitcoin is showing weakness in the $73,000 range. This is attributed to growing concerns over a benchmark interest rate hike as the U.S. consumer price inflation rate exceeded market expectations. As of 8:35 AM on the 11th, Bitcoin is trading at $73,615.5 on CoinMarketCap, a global cryptocurrency market data site, down 2% from 24 hours ago. Compared to a week ago, it has fallen 5.39%. Major altcoins
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.
Coverage Details
Bias Distribution
- 47% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
