Posted 11/14/2023, 3:16:02 PM
Bitcoin Rebounds Toward $37K as Inflation Cools, Stocks Rally on Lower CPI
- Bitcoin bounces off $36.2K lows as October CPI inflation slows beyond forecasts, rising toward $37K
- Annual CPI inflation slows to 3.2% vs 4% for core CPI, below market forecasts
- S&P 500 gains 1.5% as stocks react positively to lower-than-expected inflation
- Bitcoin price remains rangebound but liquidity is thin, allowing volatility
- Smaller traders increasing BTC exposure as whales stay quiet on exchanges
- Accept Bitcoin retracements as normal in a bull market, with up to 20% drawdowns
- Market corrections contribute to overall health, even with BTC up 120% year-to-date