Bitcoin nears 11-week low after ‘discouraging’ US CPI inflation beat
Bitcoin and US stocks initially fall after October inflation tops forecasts, with traders expecting a quarter-point Fed rate hike in December.
Bitcoin (BTC) dipped toward its 11-week lows near $73,500 at Tuesday’s Wall Street open after US inflation came above expectations.
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Data from TradingView showed BTC/USD falling to $73,518, nearly matching the low it set on Sunday, its lowest level since Aug. 21.