U.S. October CPI comes in above expectations; Bitcoin falls below $74,000
The U.S. Bureau of Labor Statistics announced on November 10 that October CPI rose 0.4% month over month, above the expected 0.3%; core CPI rose 0.3% month over month, also above the expected 0.2%. After the data was released, Bitcoin briefly fell to around $73,400, its lowest level in nearly three months. According to BeInCrypto, about $200 million in leveraged positions were liquidated within five minutes.
Bets on a Fed rate hike in December surged, with CME FedWatch showing the probability of a hike rising to about 98.8%. Notably, because the 2025 government shutdown resulted in missing data, this report did not publish the year-over-year inflation rate.
$BTC $ETH
The U.S. Bureau of Labor Statistics announced on November 10 that October CPI rose 0.4% month over month, above the expected 0.3%; core CPI rose 0.3% month over month, also above the expected 0.2%. After the data was released, Bitcoin briefly fell to around $73,400, its lowest level in nearly three months. According to BeInCrypto, about $200 million in leveraged positions were liquidated within five minutes.
Bets on a Fed rate hike in December surged, with CME FedWatch showing the probability of a hike rising to about 98.8%. Notably, because the 2025 government shutdown resulted in missing data, this report did not publish the year-over-year inflation rate.
$BTC $ETH
