Matt Mena, a strategist at 21shares, said bitcoin’s rebound would need to reclaim $70,000 and then $74,000 to become a sustained recovery. He said holding support near $69,000 could help build a base, while a break below it could expose $65,000 to another test. The source said bitcoin had recently slipped below $69,000 after briefly nearing $70,000.
U.S. producer prices rose 0.3% in October, while annual producer inflation rose to 6.5%. Mena said a recovery toward $87,000 and an eventual move above $90,000 remained possible, not assured.
