With Bitcoin near $65K, can history repeat BTC’s March 2023 comeback?

The U.S. headline CPI (Consumer Price Index) was up 0.4% in October, compared to a 0.3% expectation. The metric's brisk rise for the third straight month signalled that underlying inflation pressure was building up. Inflation pressures came from high oil prices (due to the conflict with Iran) and import tariffs, alongside robust household and business spending. On Tuesday, the 10th of November, Fed Governor Christopher Waller raised the prospect of an interest rate hike of 50bps. Unlike the previous Federal Open Market Committee (FOMC) meeting, there is no debate now about whether the Fed should pause or hike, but rather whether the December meeting will result in a 25 bps or 50 bps rate hike.

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