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AI summary of a third-party reportBearishNewsDesk

Bitcoin falls to $73,500 as Nvidia probe and US inflation data loom

Bitcoin dropped to its lowest level since August as more than $1.1bn in leveraged positions were liquidated, with Nvidia's board investigation and US inflation reports adding pressure.

InvestIn.News NewsDesk · 1 min read
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Picture from Cointelegraph for: Bitcoin falls to $73,500 as Nvidia probe and US inflation data loom
Image: Cointelegraph
Original reporting: William Suberg, Cointelegraph

Key points

  • Bitcoin fell to about $73,500 late on 8 November, its lowest since 21 Aug, before recovering briefly above $75,000.
  • US October CPI is due on 10 November and PPI on 13 November, both at 8:30 am ET, with WTI crude near $90 a barrel.

The coin briefly recovered above $75,000 after slipping below $74,000 shortly before the weekly close, Cointelegraph reported, citing TradingView data.

About $1.12bn in leveraged positions were wiped out in the 24 hours to 9 am UTC on Monday, according to CoinGlass. Bitcoin traded below its 50-week simple moving average of $75,492 and approached the 21-week average of $73,078.

The US Bureau of Labor Statistics releases October's Consumer Price Index on Tuesday and Producer Price Index on Friday, both at 8:30 am ET. September consumer prices rose 3.7% year on year. West Texas Intermediate crude traded near $90 a barrel on 9 November, and economist Robin Brooks said a fall in oil could lift Bitcoin, stocks and precious metals.

What to watch: US October CPI is due on 10 November and PPI on 13 November, both at 8:30 am ET, with Fed officials Christopher Waller and Michelle Bowman speaking on Tuesday.

Read the full story on Cointelegraph

Live updates on NewsFeeds:BitcoinDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Cointelegraph’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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