Bitcoin at $74,600: U.S. CPI Release at 2:30 p.m. Determines the Fate of $73,000
Bitcoin traded at $74,600 ahead of the 2:30 p.m. U.S. CPI release. Support sits at $73,150. An ETF outflow of $1.28 billion was recorded, and the Fed is considering a rate hike in December.
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The US consumer price index for October falls at 2:30 p.m. Paris time. The markets expect an increase of 0.3% over the month and 3.9% over the year. A figure above would push the dollar and rates higher and bitcoin towards its support of $73,150.
The Dow Jones consensus expects +0.3% in October after +0.6% in September, and 2.8% annual underlying inflation. The trap is elsewhere. Rate futures (CME FedWatch) give an 85% chance of a 25 basis point hike at the Fed meeting in early December. This would be the first increase since July 2023. Austan Goolsbee spoke on Monday of the need to “admit failure on inflation”, and Mary Daly in San Francisco does not rule out other turns of the screw.
In this setting, Bitget Wallet sees the zone 73,000-74,000 dollars as the last bastion before 68,000, and it would be necessary to recover and then hold 80,000 dollars to speak of real demand. BRN analysts are drier in their note relayed by CoinDesk: “Bitcoin needs real buyers, not a fluke. Until ETF flows return to positive territory and the Fed becomes accommodative again, the path of least resistance remains downward. »
The levels to keep an eye on have not changed since Sunday. The 200-day moving average moves to $73,150, the 100-day average stalls at $77,430. Between the two, 4,000 dollars of no man’s land where bitcoin has been going around in circles for three sessions.
Spot Bitcoin ETFs lost $1.28 billion between November 2 and 6, including $1.21 billion for BlackRock's IBIT alone, according to The Block. Worst week since June. The balance for the year 2026 has gone negative, and Monday's flows will be known in the morning.
The sellers are identified. MARA sold 13,597 BTC at an average of $81,039 after the close of the quarter, or $1.1 billion to repay 750 million loans backed by its bitcoins. Strategy did purchase 1,036 BTC last week at $79,012, but its average price of $75,456 is now outpacing the price. The 850,364 BTC paid for $64.16 billion is worth $63.4 at this morning's price.
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- Journal du Coin10 Nov, 07:15Bitcoin at $74,600: U.S. CPI Release at 2:30 p.m. Determines the Fate of $73,000 ↗Figures: 1.28 milliards
| Publisher Journal du Coin (general tier) | +72 |
| Checkable figures cited | +3 |
| Total | 75 |
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