Bitcoin may rebound if inflation cools, with further downside below $73K

With the U.S. October consumer price index due later today, Bitcoin could see a short-term rebound if inflation comes in lower than expected, CoinDesk reported. Crypto research firm BRN said easing U.S. inflation pressure would be positive for risk assets, but BTC would need continued spot ETF inflows and a shift by the Federal Reserve toward looser monetary policy to sustain further gains. Until then, BRN sees a higher likelihood of additional declines. It added that if BTC closes below $73,000 on the daily chart, it could fall to $70,000, and a deeper slide could send it below $60,000. Bitget Wallet analysts also said a hotter-than-expected inflation reading could strengthen expectations for a December rate hike by the Fed, while slowing core inflation could help BTC rebound. Still, they said a break below $73,000 could push BTC down to $68,000, while reclaiming and holding $80,000 would signal stronger buying demand.