Bitcoin Falls Below $74,000 as December Fed Hike Risk Rises

Bitcoin (BTC) fell below $74,000 after October consumer prices rose 0.4% from September, while core inflation matched the level Federal Reserve Governor Christopher J. Waller said could warrant considering a larger December rate increase. The consumer price index (CPI) rose at a slower monthly pace than in September, when it gained 0.6%. Core prices rose 0.3% for a third straight month, after matching that pace in August and September. Both monthly figures were seasonally adjusted. Before the report, Waller said he would support a 25-basis-point increase at the Fed’s December meeting even if inflation improved. He added that a core reading around 0.3% or higher could make a 50-basis-point increase worth considering. Waller’s position was his own and did not represent a Federal Open Market Committee decision.

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