$120M of Long Positions Liquidated and the Bitcoin Price Loses 6% in a Few Hours. What’s Next for Bitcoin Price?
Positive inflation data should have benefited the Bitcoin market, but as always, the max pain scenario prevailed.
If you liked reading this, feel free to click the ❤️ button on this issue so more people can discover it on Substack 🙏.
American inflation figures for October 2023 were released yesterday by the U.S. Bureau of Labor Statistics.
These figures, so eagerly awaited by all financial markets, but also by members of the Fed's FOMC, are better than expected:
Although this is the 31st consecutive month with inflation above 3% in America, inflation appears to be on the decline again in America.
The US 10-year plunged rapidly again, and Wall Street went back into Bullish mode.
Keep reading with a 7-day free trial
Subscribe to In Bitcoin We Trust Newsletter to keep reading this post and get 7 days of free access to the full post archives.