Zcash (ZEC) Dumps Below $1K, Bitcoin (BTC) Struggles at $74K After CPI Reading: Market Watch

The higher-than-expected CPI numbers for October resulted in another major leg down for bitcoin yesterday, with the asset plunging below $73,000, thus charting a near-three-month low. The altcoins shed tons of value once again, and ZEC leads the pack. The privacy token has tanked the most over the past 24 hours, dropping below $1,000 for the first time since early September. BTC Keeps Struggling It was just a week ago when the markets rebounded from the midterm election shock, in which the Democrats won decisively on numerous fronts. Bitcoin had dropped from $78,000 to $75,600 before it skyrocketed to $81,000 as the uncertainty seemingly vanished. However, that rally was short-lived, and the bears were back in control less than 24 hours later.

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