Bitcoin dips to $74,443 as US inflation looms, tech weakens
Bitcoin slid to $74,443 after peaking at $75,231, dropping about 0.71% in the last day and 2.86% over the week.
The dip comes as traders watch for new US inflation numbers, while tech and AI stocks also took a hit, and global markets bounced back a bit thanks to lower energy prices and a weaker dollar.
Bitcoin ETFs recorded $412 million net outflows
Bitcoin ETFs recorded $412 million in net outflows, with Ethereum ETFs also losing ground.
Analysts say these price levels are important battlegrounds, with spot buyers and derivatives traders stepping in even as big investors sell off.
All eyes are now on US inflation at 7pm IST; Vikram Subburaj, CEO of Giottus, believes it could shape where Bitcoin heads next: "A core reading above the 0.2% monthly forecast could strengthen expectations of a December Fed rate hike and make it harder for Bitcoin to clear $76,450, where recent rebounds have stalled."