Bitcoin Falls to 11-Week Low on Inflation

Bitcoin dropped 1.4% to $73,588, marking its weakest level in 11 weeks after U.S. consumer prices climbed 0.4% in October. The core inflation rate rose 0.3%, matching September's pace and exceeding the 0.2% forecast. Federal Reserve Governor Christopher Waller stated a 50-basis-point increase should be considered at the December meeting if October core CPI came in around 0.3% or higher.