Despite lower-than-expected United States inflation data showing a 3.2% yearly increase, the bullish momentum that propelled (BTC) to 31.8% 30-day gains was waning on Nov. 14. Bitcoin price appeared overheated, with close to $100 million liquidated within an hour, even after traditional markets reacted positively to flat month-over-month inflation.

The contraction in Bitcoin price has not worried all analysts, with some believing Bitcoin is starting a path to $48,000.