US inflation runs hot: Bitcoin at $73,600 with stops in focus before December 9

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: US consumer prices rose 0.4 percent in October, more than expected, and a Fed rate hike on December 9 now looks certain. Bitcoin slips to around $73,600 and trades just above its 200-day moving average.US consumer prices rose more than expected in October.Add as a preferred source on GoogleFollow on Google NewsThe facts first: US consumer prices rose 0.4 percent in October from the previous month, against expectations of 0.3 percent. The core rate, at 0.3 percent, also came in above the 0.2 percent forecast. Bitcoin gave up another percent after the release at 14:30 German time and fell to around $73,600. Our assessment follows further down. With these numbers, a rate hike by the US Federal Reserve on December 9 is regarded as settled, and the Bitcoin price sits only just above the level that decides the direction this week. Anyone trading with leverage or considering buying more now has a clear date ahead. The Fed decides on December 9, and the next inflation reading ...