
Bitcoin fell to an 11-week low following hotter-than-expected October inflation data. The Consumer Price Index (CPI) rose 0.4% month-on-month, exceeding expectations, while core inflation increased 0.3%. Energy price growth, slowed to 0.7% from 5.2% in September.
Bitcoin’s price action signals weakening buying momentum, particularly after breaking below the $76,400–$77,000 zone, which has now turned into resistance. Buyers need to reclaim this range to improve the technical outlook. On the downside, $73,008 remains the key support. A sustained break below this level could trigger further declines toward $70,000 and $66,282.
Ethereum, meanwhile, found support around the psychological $2,000 mark, managing to stay above this level. The immediate resistance stands at $2,100, while $2,000 remains a crucial support zone.