Bitcoin fell below $73,000 after the release of October’s U.S. consumer price index, reaching an intraday low of $72,787, according to Bitstamp. The Bureau of Labor Statistics reported a 0.4% monthly rise in consumer prices, down from 0.6% in September but above expectations. The source does not provide a full date for the release.
Coinglass reported more than $632 million in crypto liquidations over 24 hours, including more than $511 million in long positions. Prediction markets put the implied chance of a 25-basis-point Federal Reserve rate hike in December at 85%, up from 77% before the CPI release; no hike had been announced. Bitunix analysts warned before the report that persistent price pressures could limit a crypto recovery.
