Bitcoin remained below the $70,000 mark on Friday, trading near $68,700 after recovering from an earlier drop to around $67,500, its lowest level since mid-August. The cryptocurrency was down approximately 4% during the day as investors showed a limited reaction to softer-than-expected US producer inflation data.
The US Producer Price Index (PPI) increased 0.3% month over month and 6.5% year over year in October. Both figures were 0.1 percentage points below market expectations. However, the annual increase marked the highest level since November 2022, indicating continued inflationary pressure.
US stocks also declined at the start of Friday’s trading session. The S&P 500 fell 1.2%, while the Nasdaq Composite dropped 1.5%, as investors assessed economic data and developments surrounding Nvidia following the reported resignation of CEO Jensen Huang.
Meanwhile, market analyst Rekt Capital warned that a weekly Bitcoin close below $73,000 could signal another breakdown in a key support level. Bitcoin previously experienced two similar breakdowns in 2026, followed by declines toward $60,000.
At around $68,700, Bitcoin was down 11.2% for November and 17.7% in the fourth quarter, reflecting continued pressure on the cryptocurrency market.
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