Bitcoin responds to U.S. inflation data with further BTC price downside to two-week lows.
) hit new October lows after the Oct. 11 Wall Street open as one analyst hailed the “final stage” of the cryptocurrency bear market.
“PPI coming in hotter than expected, meaning that the $DXY will probably have a bounce upwards and Bitcoin some corrections south. Still monitoring the lower boundaries here for potential entries,” Michaël van de Poppe, founder and CEO of MN Trading,since a “death cross” completed on the daily chart at the start of the week, Bitcoin thus hit its lowest levels since Sep. 29. In so doing, it canceled out its previous October gains, and with it removed the month’s status as a classic “Uptober.
Following the action, popular trader Skew also highlighted $26,800 as a crucial level within the current range.
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