Why is Bitcoin price down today? By Cointelegraph


© Reuters

Despite lower-than-expected United States inflation data showing a 3.2% yearly increase, the bullish momentum that propelled (BTC) to 31.8% 30-day gains was waning on Nov. 14. Bitcoin price appeared overheated, with close to $100 million liquidated within an hour, even after traditional markets reacted positively to flat month-over-month inflation.

The contraction in Bitcoin price has not worried all analysts, with some believing Bitcoin is starting a path to $48,000.

Bitcoin price. Source: TradingView
Bitcoin derivatives overview. Source: Coinglass
Bitcoin trading volume. Source: Newhedge
Bitcoin long versus short ratio. Source: Coinglass
Bitcoin addresses in profit. Source: Glassnode
Bitcoin realized profit. Source: Glassnode