Bitcoin (BTC) recently surged above $37,000 between Nov. 10 and 12, only to falter and undergo a correction toward $35,000 on Nov. 13.
This abrupt movement triggered the liquidation of $121 million worth of long futures contracts, and while Bitcoin’s price stabilized around $35,800 on Nov. 14, investors are left pondering the underlying factors behind this downturn.
Bitcoin 12-hour price index, USD. Source: TradingViewU.S. inflation, gov’t shutdown impact on BTC price
Part of the catalyst behind this movement was the unexpected softening of United States inflation data on Nov. 14. The U.S. Consumer Price Index (CPI) showed a 3.2% increase in October compared to 2022, leading to a…
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