Karla Barker 
Bitcoin’s brief rebound following the US CPI release did not hold. Less than an hour ago, BTC extended its daily loss and dropped to a fresh multi-month low well below $73,000. The decline came after a failed recovery toward $75,000 and another push higher to $74,800, both of which faded. It last traded near $72,700, the lowest level since the August breakout began.
CPI reading adds pressure
The drop did not begin with CPI. Bitcoin had already sold off sharply on Monday morning, extending last Thursday’s slide from above $81,000 to under $76,000. Monday’s move took it to $73,600, a local low at the time. Ahead of the CPI print, BTC held near $74,400. When the monthly increase came in higher than expected, the price dipped almost $1,000 immediately. Bulls attempted to step in but could not hold the line.
Altcoins follow BTC lower
Altcoins followed the same path, and the damage is wider. Ethereum dropped more than 5% to about $2,010, leaving it just above the $2,000 support level. XRP fell by a similar amount and now trades below $1.05. SOL is down 5% to $82. ZEC slid almost 13% to $1,030. These moves are typical when BTC loses support quickly, though the speed of this drop still stands out.
Liquidations climb past $570M
CoinGlass data shows the cost of the move. In the past four hours, about $580 million in positions were wiped out, with longs accounting for $484 million of that total. On a 24-hour basis, nearly $700 million was liquidated, with $570 million coming from longs. More than 115,000 traders were hit. The single largest liquidated position was worth over $31 million and took place on HTX.
ETH leads the liquidation count again, with $252 million in wiped positions. BTC is close to $200 million. The numbers may keep shifting as price moves, but the pressure is clear. The market appears to still be reacting to the CPI surprise and the failed rebounds, not just one headline. For now, BTC is holding near its lowest range in months, and altcoins are testing support that looked solid only days ago.