Analyst: Bitcoin Faces U.S. CPI Test, but a Durable Recovery Requires Better Liquidity and ETF Demand

Nov 10: According to CoinDesk, bitcoin traded below $75,000 on Tuesday morning as the market awaits U.S. October CPI data. Economists expect headline CPI to rise 0.3% month-on-month and core CPI 0.2%, both slower than in September. Because October last year's U.S. government shutdown prevented the Bureau of Labor Statistics from compiling a complete index, no year-on-year figure is available this time.

BRN analysts said any easing in inflation expectations would benefit risk assets, but bitcoin needs real buying; until ETF flows turn positive and the Fed turns dovish, the path of least resistance remains down. Bitget Wallet analysts believe a mild inflation reading could trigger a brief bounce, but a durable bitcoin recovery depends on improved liquidity and spot demand. Analysts noted that a daily close below $73,000 could trigger momentum selling toward $70,000; $73,000 to $74,000 is the key support zone, and reclaiming and holding $80,000 would signal stronger demand.