Bitcoin slides as services inflation tempers rate-cut relief
Bitcoin fell sharply as a higher services inflation reading revived concern that easier monetary policy may not be close at hand.
Bitcoin fell sharply as a higher services inflation reading revived concern that easier monetary policy may not be close at hand. Bitcoin (BTC) is trading at ₹71,45,581 ($75,585.00). This is an original Token Times brief based on reporting by CryptoSlate, with live market data added, as of Fri, 06 Nov 2026 08:00:01 UTC.
Services inflation remains relevant to the prospect of lower interest rates, while Bitcoin’s decline and a Fear reading of 28 show a risk-off crypto market. The broader crypto market is also under pressure, with total capitalization standing at $2.61 trillion.
- Services prices index eased to 73 in October.
- The 12-month average reached 69.2, its highest since April 2023.
- Bitcoin traded at $75,604, down 6.23% over 24 hours.
- The Fear & Greed Index stood at 28, within Fear territory.
- Japan's Inflation Spike Fuels December Rate Hike Expectations
- Bitcoin slides as services inflation tempers rate-cut relief — this brief
CryptoSlate reported that October’s services prices index eased to 73, while its 12-month average increased to 69.2, the highest level recorded since April 2023. Although the monthly reading declined, the elevated annual average indicated that underlying services inflation pressure had not fully eased, limiting relief associated with expectations of rate cuts.
The report was the only supplied outlet coverage of the development, so the inflation figures and their connection to monetary-policy expectations rest with CryptoSlate. No other outlet was provided to corroborate the figures or offer a conflicting estimate.
Bitcoin traded at $75,604 at the time of the market snapshot. It was down 6.23% over 24 hours and 3.58% over seven days, while its market capitalization was $1.52 trillion. The broader crypto market was broadly lower, with total market capitalization at $2.61 trillion.
Risk sentiment remained weak: the Fear & Greed Index stood at 28, within the Fear range. Further services inflation releases and any change in rate-cut expectations are the next indicators for this developing story, while Bitcoin and the broader crypto market remain relevant gauges of whether selling pressure is persisting.
Since this brief published about 1 hour ago, Bitcoin (BTC) has moved from ₹71,47,377.69$75,604.00 to ₹71,45,581.49$75,585.00 — -0.03%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Will Bitcoin dip to $70,000 by December 31, 2026?
Crowd-implied probability on Polymarket, ₹13.99M 24h volume, resolves Jan 1 — snapshotted when this brief published (Nov 6 07:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by Token Times and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₹7.87M (about $75,585.00), down 5.9% over 24 hours. The rupee itself trades about 10.1% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Bitcoin slides as services inflation tempers rate-cut relief — questions & answers
How high was that inflation average compared with April 2023?
The 69.2 average was the highest recorded since April 2023.
How was Bitcoin performing at the time?
Bitcoin was priced at $75,604, down 6.23% over 24 hours and 3.58% over seven days.
How much is 1 Bitcoin worth in rupee today?
About ₹7.87M at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $75,585.00. The rupee price moves with both BTC's US-dollar price and the USDT/INR rate; use our Bitcoin in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from CryptoSlate. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.