Bitcoin dropped to USD 72,689 on Tuesday after October's US consumer price index rose 0.4% month-on-month, compared with September's 0.6% increase. Energy inflation slowed to 0.7% from 5.2%, yet expectations of another Federal Reserve rate increase intensified.
Reported odds of a December 25-basis-point hike climbed from 77% to 85%. According to CoinGlass, cryptocurrency liquidations exceeded USD 632 million over 24 hours, including more than USD 511 million in longs. Bitcoin liquidations topped USD 169 million, while Ether approached USD 240 million.
Bitunix analysts warned: “If services inflation and energy cost pass-through remain elevated, a persistently strong US dollar and high Treasury yields would constrain any recovery in liquidity.”
A sustained recovery therefore depends on renewed buying demand and stronger support, while USD 64,000 remains a downside scenario, not a confirmed target.
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