2 Reasons Why Bitcoin (BTC) Could Bleed Even More in the Short Term

Earlier this week, the leading cryptocurrency plunged to roughly $73,500, its lowest level since August. Bulls have reclaimed some of the lost ground, but BTC still trades near $74,100, down about 10% over the past month. Despite the minor rebound, bears remain in charge, while two key factors suggest that the asset may post additional losses in the near term. Here’s why traders and investors should tread carefully. Inflation Data and More The main economic event scheduled for today (November 10) is the US CPI data, which will show the inflation rate for October in the world’s biggest economy. It is important because it could influence the Federal Reserve’s future monetary policy decisions, including the path of interest rates.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CryptoPotato.