Bitcoin price holds $74,800 as the 200-day average at $73,170 faces US inflation data

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Analysis: Bitcoin starts the week at around $74,800 after briefly dropping to $73,477 on Sunday evening, its lowest level since August 21. The 200-day moving average sits just below, and US inflation data is due on Tuesday.Bitcoin is approaching its 200-day moving average, the most important support level since August.Add as a preferred source on GoogleFollow on Google NewsThe facts: Bitcoin costs around $74,800, or €67,100, on Monday morning, November 9, and has closed its fifth losing week in a row. On Sunday evening the price on Coinbase slipped to $73,477, the lowest level since August 21. Our assessment follows further down: the 200-day moving average at around $73,170 is now the level that decides whether the correction that began in early October turns into a downtrend. Anyone checking the bitcoin price this morning sees a quiet night. Between 1 and 6 a.m. German time, BTC moved between $74,388 and $75,500, according to Coinbase hourly candles. The real move came twelve h...