3 Things to Watch as Bitcoin Price Dumps Below $73K Again

At one point in the last 24 hours, Bitcoin rose to about $74,600 after shocks caused by October’s US CPI data contributed to it falling below $73,000 recently. However, at the time of writing, it was back below $73,000, with market commentary account CryptosRus suggesting that BTC has to overcome three tests for the rebound to hold. Bitcoin Rebound Faces Further Macro Pressure The first test has to do with inflation, with October’s headline Consumer Price Index rising above the anticipated 0.3% forecast to hit 0.4% month-over-month, while the core CPI increased by 0.3% against expectations of 0.2%. That inflation surprise helped to briefly push Bitcoin below $73,000 and even triggered approximately $200 million in long liquidations within 15 minutes.

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