Bitcoin fell to roughly $73,500, its lowest level since August, before rebounding slightly to about $74,100, leaving it down approximately 10% over the past month. The upcoming release of October U.S. inflation data, which could show a 0.3% monthly increase, represents a potential source of pressure. A 0.4% rise, already largely priced in according to some observers, could trigger another decline in BTC. In addition, an anonymous investor who previously made more than $4 million in profits opened a $94 million short position on bitcoin with 13x leverage. Despite a longer-term bullish scenario, these two factors could expose bitcoin to further losses in the short term.
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