According to CoinMeta, the price of Bitcoin has continued to fall and has now dropped below $67,000, mainly due to traders' increased expectations for further interest rate hikes by the Federal Reserve. Inflation data for October strengthened market expectations of another rate hike in December. Reports from Coinbase indicate that the supply of stablecoins decreased by $11.5 billion, marking the largest decline. Bitcoin has fallen by nearly 12% in the past week, triggering liquidations amounting to $663.83 million, of which $533.56 million came from long-position traders. Coinbase also points out that the decline in Bitcoin is more closely related to changes in Fed interest rate expectations than to the Binance hack incident. In October, CPI rose by 0.4% month-on-month, and the core CPI rose by 0.3%, both exceeding expectations. The market expects interest rates to rise by about 64 basis points over the next 12 months.