Bitcoin Holds Near $75K as Traders Await US Inflation Report

US inflation report — Bitcoin traded in a narrow range near $75,000 on Monday as U.S. equity markets rebounded, with traders focusing on a key inflation report due Tuesday that could influence Federal Reserve interest rate policy.

The leading cryptocurrency showed muted price action, hovering around the $73,800 level, following a weekend that saw significant leveraged position liquidations. Meanwhile, major U.S. stock indices like the S&P 500 posted gains, buoyed by a drop in oil prices.

The primary market focus is the upcoming release of the U.S. Consumer Price Index (CPI) data for October. The report is seen as a critical test for market expectations of a potential Federal Reserve interest rate hike in December. A higher-than-expected inflation reading could dampen risk appetite across both traditional and digital asset markets.

Bitcoin’s consolidation comes after a period of volatility, with the asset failing to break decisively higher despite the positive momentum in equities. Analysts suggest the cryptocurrency market is in a holding pattern, awaiting clearer signals on the macroeconomic trajectory from the inflation data and subsequent Fed commentary.