The Bitcoin price fell below $74,000 on November 10 after hotter-than-forecast US inflation raised concern that the Federal Reserve could deliver a larger rate increase in December. The reports connected the inflation release with increased concern about a larger December rate hike. On November 11, Bitcoin was down 0.96% over 24 hours in the 15:13 UTC market snapshot.
- Decrypt reported Bitcoin traded near $74,200 before the inflation release, then briefly fell to about $73,525.
- The Bureau of Labor Statistics said October CPI rose 0.4% month over month, while core CPI increased 0.3%.
- Fed Governor Christopher Waller said a 0.3% or higher core reading would make a 50-basis-point hike worth considering.
- Bitcoin was $73,679 at 15:13 UTC on November 11, down 0.96% over 24 hours, according to the supplied market data.
- AP reported futures pricing put the chance of a December rate increase at 90%. Separately, Investing.com cited a stronger dollar, higher yields, continued spot ETF outflows and rate concerns amid Bitcoin’s decline.
Timeline of events
- October 30: US spot Bitcoin ETFs recorded $643.3 million in net outflows, their largest daily total since June 25, according to SoSoValue data cited by The Block. The Block reported that the outflow followed a $6.3 billion Binance hack the previous day.
- November 10: The BLS released October inflation figures. CPI rose 0.4%, slower than September’s 0.6%, but the core measure rose 0.3%, matching its increases in August and September. Decrypt said Bitcoin fell from around $74,200 to a brief low near $73,525 after the release.
- November 10: Fed Governor Christopher Waller discussed the outlook and said he would support a 25-basis-point increase in December even if inflation improved. He said a core reading around 0.3% or higher would warrant considering a half-point move. Waller stressed these were his views, not necessarily those of the Board or the Federal Open Market Committee.
- November 11: Investing.com reported Bitcoin at $73,602 at 9:25 a.m. ET, down 1% at that point, after touching a three-month low overnight. CoinGecko’s market snapshot put the Bitcoin price at $73,679 at 15:13 UTC.
Background: Bitcoin price and inflation
In its coverage of the October report, Cointelegraph said the inflation data increased expectations of a larger December rate hike and raised concerns for crypto investors. Decrypt reported that Bitcoin fell below $74,000 after the release. These reports describe the market reaction and rate concerns, but do not establish that inflation was the only factor behind the price move.
The October report was mixed rather than uniformly hotter. The headline CPI increase slowed from September, while core CPI held at 0.3%. The BLS also said it could not publish October 12-month changes for indexes without October 2025 survey data, which wasn’t collected during a lapse in appropriations. That limits some year-over-year comparisons from this release.
One monthly report does not establish what the Fed will do next. Waller said his view was his own, not necessarily that of the Board or the FOMC.
Reactions across markets
Cointelegraph said the inflation surprise increased expectations of a larger December hike and raised concerns for crypto investors. Decrypt focused on Bitcoin’s immediate drop below $74,000. Together, their reports show the rapid repricing after the data, although they don’t establish that inflation was the only cause of the move.
AP reported futures markets were pricing a 90% chance of a rate increase at the Fed’s December 8-9 meeting. The outlet also reported Dallas Fed President Lorie Logan supported two more quarter-point increases and said the central bank could move faster this winter. Those views underline the debate, but they don’t guarantee the committee will raise rates by a particular amount.
Other factors may have compounded the move. Investing.com cited a stronger dollar, higher yields, continued spot ETF outflows and rate concerns. The October 30 fund withdrawals came before this inflation release, so they provide context for ETF flows but are not evidence of a direct response to CPI. The Block reported that U.S. spot Bitcoin ETFs recorded $643.3 million in net outflows that day, their largest single-day outflow since June 25.
| Asset | Price | 24-hour change | 7-day change |
|---|---|---|---|
| Bitcoin | $73,679 | -0.96% | -6.04% |
| Ethereum | $2,061.83 | -0.72% | -11.34% |
Prices and changes in the table are from the supplied CoinGecko market data at 15:13 UTC on November 11, 2026. The Bitcoin price was also down 11.27% over 30 days in that snapshot. The Crypto Fear & Greed Index registered 29, classified as Fear, on November 11, according to Alternative.me.
Outlook: what to watch next
The next key question is whether upcoming economic data and Fed comments reinforce or weaken expectations for a half-point move. Waller’s threshold has been met by October’s core CPI reading, but the governor only said a larger increase should be considered. The Fed’s December decision will depend on its assessment of the broader evidence.
Investors will also be watching the dollar, Treasury yields and whether spot ETF flows stabilize. The Bitcoin price can move amid several reported market factors, and this short-term move does not establish which factor will matter most next. The supplied market snapshot showed Bitcoin down 6.04% over seven days and 11.27% over 30 days as of 15:13 UTC on November 11.
FAQ
What did reports say about the Bitcoin price after the October CPI report?
Decrypt reported that Bitcoin fell below $74,000 after the release. The October core CPI increase of 0.3% met the threshold Waller had named for considering a larger December hike. The reports describe the timing and rate concerns, but do not establish CPI as the only cause of the price move.
Does the inflation report confirm a 50-basis-point Fed hike?
No. Waller said a half-point move should be considered if core CPI reached around 0.3% or higher. His remarks were his own, and they don’t represent a confirmed FOMC decision.
What should readers watch after this Bitcoin price move?
Readers can follow forthcoming inflation and economic data, Fed communications, market yields, the dollar and ETF flow reports. Investing.com cited yields, the dollar, ETF outflows and rate concerns amid Bitcoin’s decline; those reports do not establish what will drive its next move.
Sources
- Hot US inflation raises odds of half-point Fed hike in December (Cointelegraph)
- Bitcoin Falls as Hot US Inflation Fuels Fears of Bigger Fed Rate Hike (Decrypt)
- Bitcoin Falls as Hot US Inflation Fuels Fears of Bigger Fed Rate Hike (decrypt.co)
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.
For advertising inquiries, please email . [email protected] or Telegram
