Bitcoin bounces at $36.2K lows as CPI inflation slows beyond forecasts

Source: TradingViewCPI provides Bitcoin, stocks a pleasant surpriseData from Cointelegraph Markets Pro and TradingView revealed BTC price strength returning as the Consumer Price Index (CPI) showed slowing inflation in October.CPI came in 0.1% below market projections both month-on-month and year-on-year. The annual change was 3.2% versus 4.0% for core CPI. Source: Material Indicators/XAnalyst: Accept BTC price retracementsDown around 4% from the 18-month highs seen previously in the month, BTC cost action still pleased market individuals, who argued that comedowns within the broader uptrend were not just basic however appropriate.Related: Bitcoin institutional inflows leading $1B in 2023 amid BTC supply capture”Bitcoin already down 4.5% from the highs; bull market corrections are normal and healthy,” James Van Straten, research study and data analyst at crypto insights firm CryptoSlate, told X (previously Twitter) customers on the day.

Source: TradingViewCPI provides Bitcoin, stocks a pleasant surpriseData from Cointelegraph Markets Pro and TradingView revealed BTC rate strength returning as the Consumer Price Index (CPI) showed slowing inflation in October.CPI came in 0.1% below market projections both year-on-year and month-on-month. The annual change was 3.2% versus 4.0% for core CPI. Source: Material Indicators/XAnalyst: Accept BTC cost retracementsDown around 4% from the 18-month highs seen earlier in the month, BTC rate action still satisfied market individuals, who argued that comedowns within the more comprehensive uptrend were not just standard but appropriate.Related: Bitcoin institutional inflows leading $1B in 2023 in the middle of BTC supply squeeze”Bitcoin already down 4.5% from the highs; bull market corrections are healthy and regular,” James Van Straten, research study and information expert at crypto insights firm CryptoSlate, told X (previously Twitter) subscribers on the day.