Bitcoin crashes as US CPI reignites hawkish Fed expectations as bond yields approach 5%

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.

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.

Bitcoin (BTC) and gold (XAU) prices fell as US inflation rose 0.4% in October, exceeding forecasts. The Fed is likely to raise rates in December. BTC is trading at $74,051, facing resistance at key EMAs. Gold is at $4,055, with resistance near $4,150 and $4,257. Both assets show bearish short-term outlooks.

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.