October CPI Exceeds Expectations as Bitcoin Drops Below 74,000 USDT

Bitcoin moved below the 74,000 USDT mark after U.S. inflation figures for October exceeded expectations, with both headline and core CPI readings topping forecasts on Tuesday.

The U.S. consumer price index (CPI) rose 0.4% month over month, while core CPI increased 0.3% from September. Both readings were above market expectations.

At 8:34 a.m. ET (13:34 UTC), a separate USD-denominated market snapshot put Bitcoin at $73,652, down 1.39% over 24 hours. That dollar quote is distinct from the 74,000 USDT threshold because the observations use different quote currencies.

Bitcoin had also fallen below $74,000 before the release. An earlier Nov. 8 move below the threshold came amid more than $1 billion in crypto liquidations over 24 hours.