Bitcoin trades at $74,700 as ETFs see $201 million outflow, CPI report ahead

Bitcoin (BTC) has recovered slightly from Monday’s decline and is now trading near $74,700. This minor rebound comes as the cryptocurrency struggles to move above key resistance levels, with subdued institutional interest hindering its potential for a stronger comeback. Market participants are now turning their attention to the October US Consumer Price Index (CPI) report, which is anticipated to bring fresh volatility across the financial sector. The CPI figures arrive just days after stronger-than-expected US employment data, which bolstered expectations of tighter monetary policy from the Federal Reserve. Last week’s robust Nonfarm Payrolls (NFP) results indicated that the US labor market remains solid, providing the Fed with more room to consider raising interest rates.

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