Bitcoin Slides Toward $67K as 6.5% Inflation Print Stirs $65K Fears

Bitcoin traded near $67,000 on November 14, extending a November selloff that has traders eyeing $65,000 as the next stop. The coin has already sliced through $70,000 and $68,000 in recent sessions, after selling pressure near $74,000 and a break below the $73,000 support region.

Friday's inflation report did the damage. The Bureau of Labor Statistics said the Producer Price Index rose 0.3% in October, below the 0.4% consensus, but annual producer prices climbed 6.5% — the fastest pace since November 2022. That's a slowdown from September's revised 1.4% monthly advance and still a problem for the Federal Reserve, which may find its room to ease policy squeezed if price pressures stay hot.

Institutions are heading for the exits too. Farside data shows $185.4 million in net Bitcoin ETF outflows on November 13, including $143.5 million pulled from BlackRock's IBIT and $41.9 million from Fidelity's FBTC. Those withdrawals have repeatedly kneecapped attempted price recoveries.

On the charts, $66,000 to $66,500 is the first zone to watch after Bitcoin's recent trading around $66,500. A decisive break below could put the psychologically loaded $65,000 level in play, and a sustained slide under that brings $62,500 to $63,000 into consideration — conditional scenarios, not confirmed floors. Bulls need $68,500 first, then $70,000, to prove momentum is returning.

The correction has dimmed the year-end picture, making a return toward $80,000 tougher. Earlier forecasts flagged $72,000 as a major downside risk, a level Bitcoin has now broken. Its recovery increasingly rides on whether institutional demand stabilizes and investors get more confidence about the Fed's next policy decision; a reversal in ETF outflows would remove one source of selling pressure, though inflows alone wouldn't guarantee a rebound.