Analysts: Bitcoin Faces US CPI Test, but Durable Recovery Needs Liquidity Improvement and ETF Demand

PANews, November 10 - According to CoinDesk, Bitcoin traded below $75,000 early Tuesday morning as the market awaited the US October CPI data. Economists expect headline CPI to rise 0.3% month-over-month and core CPI to rise 0.2%, both slowing from September. No year-over-year figures are available this time due to the US government shutdown in October last year, which prevented the Bureau of Labor Statistics from compiling a complete index.

BRN analysts stated that any easing in inflation expectations would benefit risk assets, but Bitcoin needs genuine buying pressure, and with ETF flows yet to turn positive and the Fed not yet dovish, the path of least resistance remains to the downside. Bitget Wallet analysts noted that moderate inflation data could trigger a brief rebound, but Bitcoin's durable recovery depends on improved liquidity and spot demand. Analysts pointed out that if Bitcoin closes below $73,000 on a daily basis, it could trigger momentum selling toward $70,000; the $73,000-$74,000 range is a key support zone, and reclaiming and holding $80,000 would signal strengthening demand.