Bitcoin price slides to the 200-week moving average after US producer prices

The bitcoin price slipped on Friday afternoon to a level that has been regarded for years as the floor of long-term cycles: the 200-week moving average. At around 4:40 p.m. CET, bitcoin cost roughly $68,100, or about €61,700. The daily low was $67,922. The latest slide was triggered by a figure from Washington: US producer prices for October, released at 2:30 p.m. CET, show annual inflation of 6.5 percent at the producer level. Shortly before the release, at around 2:40 p.m., bitcoin still stood at just under $69,900. Two hours later it was about 2.6 percent lower.