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  Bitcoin’s latest price pullback to $35,000 was driven by softer U.S. inflation, China’s economic challenges and regulatory uncertainties.  recently surged above $37,000 between Nov. 10 and 12, only to falter and undergo a correction toward $35,000 on Nov. 13 This abrupt movement triggered the liquidation of $121 million worth of long futures contracts, and while Bitcoin’s price stabilized around $35,800 on Nov. 14, investors are left pondering the underlying  factors behind this downturn . Bitcoin 12-hour price index, USD. Source: TradingView U.S. inflation, gov’t shutdown impact on BTC price Part of the catalyst behind this movement was the unexpected softening of United States inflation data on Nov. 14. The U.S. Consumer Price Index (CPI)  showed a 3.2% increase in October  compared to 2022, leading to a decline in yields on U.S. short-term Treasurys. This triggered buying activity in traditional assets, potentially reducing the demand for alternative hedge instruments like Bitcoin

  BlackRock is confident the SEC will approve a Bitcoin spot ETF in January next year The SEC is still holding various Bitcoin spot ETF applications, coming from institutions across the US. However, currently only BlackRock is said to be certain that its Bitcoin spot ETF application will be approved by the SEC.

  Data reveals a milestone in the Bitcoin blockchain, with a tally of 40 million Ordinal inscriptions etched into its ledger. Inscription records were shattered on November 12, 2023, when a daily peak saw 505,345 inscriptions created in a single day. This burst of activity propelled Bitcoin to new heights, with the day marking a new peak for daily transactions, ranking second only to the highest day on record for miner-confirmed transactions within a 24-hour timeframe. Record-Breaking Inscription Mint Drives Bitcoin to Second-Biggest Transaction Day After a period of quiet since mid-September, Ordinal inscriptions have seen a significant revival. On Sunday, November 12, 2023, the Bitcoin network witnessed a historic 505,345 inscriptions being minted — the largest number in a single day since the inception of Ordinals in December 2022. This spike in inscriptions correspondingly elevated Bitcoin’s daily transaction rate to 703,327 confirmed transactions over a 24-hour period. Bitcoin min