Bitcoin slides to 2-month low as US inflation data approaches

Bitcoin faces heightened uncertainty ahead of the upcoming US inflation report for October, as prices sink to their lowest levels in over two months. The cryptocurrency’s recent decline coincides with a split among Federal Reserve policymakers regarding potential rate hikes, while investors also navigate changes in the US political landscape following the midterm elections. The Bureau of Labor Statistics is scheduled to release October’s Consumer Price Index (CPI) on November 10 at 8:30 a.m. Eastern Time. The upcoming figures are highly anticipated following several significant market and political developments, and could provide new direction for risk assets including Bitcoin. Bitcoin fell more than 2% to $73,708 on November 9, reaching its lowest price since August.

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