Bitcoin breaks down as stocks slide on inflation data

US price increases went from an annual rate of 3.4% in August, to 3.7% in September, dealing a blow to the U.S. stock market and pushing Bitcoin into a potential breakdown. With the S&P 500 facing a further fall at the open on Thursday given the dreadful PPI data, could this result in Bitcoin confirming its breakdown? Make or break time for the Bitcoin rally Source: TradingView As can be seen in the 4-hour chart above, the $BTC price has broken below the bottom of the ascending channel . Three candle bodies have already closed below while a fourth one is deciding whether it might fall further, or add to a potential bear flag which is forming.

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