Bitcoin vs Gold Outlook: BTC and XAU Retreat as October US Inflation Climbs

Bitcoin fell below $74,000 after U.S. inflation data exceeded expectations, fueling fears of a larger Fed rate hike. The CPI rose 0.4% in October, above forecasts of 0.3%, while core CPI climbed 0.3%. Bitcoin and other cryptocurrencies faced selling pressure, with $178 million in long positions liquidated. Fed Governor Waller suggested a 50-basis-point hike could be considered in December.

Bitcoin (BTC) dropped to near $73,518, an 11-week low, after the US CPI inflation data exceeded expectations at 0.4% month-on-month. The Federal Reserve is now more likely to raise interest rates in December, with markets pricing in an 85.3% chance of a 25-basis-point hike. The Nasdaq Composite Index also faced sell-side pressure, potentially indicating a long-term bottom.

Bitcoin and other cryptocurrencies fell sharply after the US CPI report showed higher-than-expected inflation, increasing expectations of a December Fed rate hike. The 10-year Treasury yield approached 5%, signaling prolonged restrictive monetary policy. Bitcoin dropped near $73,000, while Ethereum fell below $2,100, reflecting broader market liquidity concerns.

U.S. CPI rose 0.4% in October, beating forecasts, while core CPI increased 0.3%. The Federal Reserve may consider a December rate hike. Bitcoin and other risk assets sold off post-release. Annual CPI rates were omitted due to a government shutdown.

Bitcoin (BTC) fell below $74,000 and gold (XAU) dropped near $4,050 as US inflation data exceeded expectations, rising 0.4% in October. Technical indicators suggest downward trends for both assets. The Federal Reserve is expected to raise interest rates in December, impacting market sentiment.

US CPI rose 0.4% in October, above expectations of 0.3%, with core CPI at 0.3%. Bitcoin dropped to $73,600 post-data, while 2-year Treasury yields jumped 14 basis points. The Fed's December rate hike is now considered certain, with markets pricing in a 0.25% increase.