In this video: The Rare Bitcoin Signal From 2019 Is Back. Here’s What Happened Next. Video by More Crypto Online.
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Bitcoin (BTC) is trading lower today near $73,650 (approximately €66,070) after slipping below the $74,000 threshold. The pullback extends a multi-week downtrend driven by hotter-than-expected U.S. inflation data and sustained institutional outflows.
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Bitcoin Insights Today
• Hot U.S. Inflation Data (CPI): October U.S. Consumer Price Index rose 0.4% (higher than the 0.3% expected), fueling expectations that the Federal Reserve will maintain or extend interest rate hikes.
• Macro Pressure: Stronger U.S. dollar and rising Treasury yields are increasing the opportunity cost of holding non-yielding digital assets.
• ETF Outflows & Liquidations: U.S. spot Bitcoin ETFs saw consecutive sessions of net outflows ($201 million recently recorded), alongside roughly $917 million in derivatives/futures liquidations across the broader crypto market.
• Nasdaq Correlation: K33 analysis notes that Bitcoin's correlation with tech stocks has hit a multi-year extreme, meaning BTC's near-term bounce depends heavily on whether the Nasdaq stabilizes.
• Treasury "Surrender" Signal: Capriole Fund founder Charles Edwards highlighted that the ratio of cumulative buys to sells by Bitcoin treasury companies dipped below 90%—a rare "surrender" signal that historically preceded major market bottoms.
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