Bitcoin Price Reclaims $74K After CPI Sell-Off Sparks Volatility

Bitcoin rebounded to above $74,600 after dropping to $72,787 following hotter-than-expected U.S. inflation data. The range-bound price action led to low leverage wipeouts, with bitcoin liquidations standing at $51 million out of $199 million market-wide. After plunging to $72,787 following the release of hotter-than-expected U.S. consumer price index (CPI) data, bitcoin rebounded Wednesday, fluctuating between $73,000 and $74,000. The modest recovery came even as U.S. spot bitcoin exchange-traded funds (ETFs) recorded $95 million in net outflows Nov. 10, extending their losing streak to four consecutive days. Although Bitcoin quickly reclaimed the $73,000 price threshold, it repeatedly lost momentum near the $74,000 mark, testing that level four times following Tuesday afternoon’s sell-off. By 12:25 p.m.

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