Bitcoin battles to hold $75,000 level

Bitcoin fluctuated between approximately $74,600 and $75,100 during the morning session, having lost around 2.8% over the past seven days. Weakening risk appetite in cryptocurrency markets and expectations that the Federal Reserve (Fed) could raise interest rates in December weighed on prices.

Bitcoin's 200-day moving average, located near $73,170, stands out as a key technical support level. On the upside, traders are monitoring the $75,500 level. If U.S. consumer inflation data scheduled for release today exceeds expectations, prospects of tighter monetary policy could strengthen, potentially increasing selling pressure across cryptocurrency markets. A more moderate inflation reading, however, could support a recovery in Bitcoin and other digital assets.