Bitcoin

Coin

<ul class="news-points"> 
 <li>Bitcoin saw a notable five-week surge, lifting its value by nearly 40%, only to face a bearish downturn and consolidate around $36k.</li> 
 <li>The excitement surrounding a potential spot ETF diminishes as Bitcoin fails to surpass $37k.</li> 
 <li>Investors now focus on the upcoming CPI data release as a crucial market influencer.</li> 
</ul> 
Following a robust five-week ascent, propelling its value by nearly 40%, <a href="https://coinedition.com/tag/bitcoin-btc-news/">Bitcoin (BTC)</a> has encountered a period of consolidation in the $37,000 range. The digital asset appears unable to sustain the bullish rally, with its price now around $36,000 after largely bearish trading in the past 24 hours. 
With the excitement surrounding the potential <a href="https://coinedition.com/what-would-happen-if-all-bitcoin-spot-etf-applications-got-rejected/">approval of a Bitcoin spot ETF</a> dwindling, investors may shift their focus to Tuesday’s Consumer Price Index (CPI) as a potential catalyst for renewed bullish momentum. Specifically, the U.S. Bureau of Labor Statistics (BLS) is expected to release the CPI data today at 08:00 a.m. local time. 
Financial experts anticipate a slowdown in the monthly headline CPI for October, dropping from 0.4% in September to 0.1%, with the year-over-year CPI expected to decrease from 3.7% to 3.3%.&nbsp; 
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The post <a href="https://coinedition.com/bitcoin-5-week-bullish-streak-falters-can-cpi-data-perform-wonders/">Bitcoin 5-Week Bullish Streak Falters; Can CPI Data Perform Wonders?</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Bitcoin 5-Week Bullish Streak Falters; Can CPI Data Perform Wonders?

Coin Edition

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