The weekend is upon us and fear remains the dominant short-term sentiment in the cryptocurrency market. Earlier on Dec. 11, Bitcoin (BTC) price dropped to $47,250, and investors are biting their nails after data from the United States consumer price index (CPI) shows inflation reaching a forty-year high at 6.8%.
Data from Cointelegraph Markets Pro and TradingView shows that a midday push by bulls to reclaim the $50,000 support level was handily defeated and sellers sent the price back below $48,000, which could possibly force another daily lower high for the top-ranked cryptocurrency.