Bitcoin fell below $67,000, hitting its lowest level in about three months. Selling pressure in the cryptocurrency market is building as concern over higher U.S. interest rates coincides with institutional outflows. Bitcoin dropped as low as $66,915 during trading on Binance's Tether market on Nov. 13. That was its lowest price since Aug. 19. After falling below the previous day's low of $67,568, it later trimmed some losses to trade in the $67,300 range. The token was down about 4.3% from a day earlier. Hotter-than-expected U.S. inflation data fueled concern about further monetary tightening. The consumer price index rose 0.4% in October from a month earlier, while core CPI, which excludes food and energy, climbed 0.3%.
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