Bitcoin fell below 74,000. USD after the publication of the latest inflation data in the United States. US consumer prices rose more than economists expected in October, increasing pressure on the cryptocurrency market. The BTC rate dropped to approximately 73.6 thousand. USD, remaining near 11-week lows.
Data published on November 10 at 14:30 Polish time showed that CPI inflation amounted to 0.4% month on month, compared to the forecast 0.3%. Core inflation, excluding food and energy prices, rose 0.3%, also exceeding expectations of 0.2%.
Bitcoin under pressure. Over a billion dollars flowed out of the ETF
Following the publication of the report, Bitcoin deepened its previous declines, reaching the level of $73,588 recorded in LSEG data cited by The Wall Street Journal. This meant a decline of approximately 1.4% and a retest of the area that the cryptocurrency had already approached in the previous days.
Market weakness was visible even before the CPI was published. On Sunday, November 8, Bitcoin was falling to around 73.5 thousand. USD, and subsequent attempts at recovery did not bring a lasting return above 75,000. USD.
The pressure is not limited to cryptocurrencies. After the publication of inflation, American stock indices also fell, and the yields of treasury bonds and the dollar increased. Investors are increasingly preparing for further interest rate increases.
After the CPI reading, Fed rate futures were pricing in about an 86% probability of a December 25 basis point increase and a 14% probability of a larger move of 50 basis points. However, expectations regarding the tightening of monetary policy were high even before the publication of the report.
Currently, the U.S. interest rate range is 3.75-4.00%. Higher interest rates may reduce interest in risky assets because they increase the attractiveness of instruments generating interest income and increase the cost of financing investments.
The US did not report annual inflation. The reason for the shutdown of 2025
The October report also contains an unusual loophole. The U.S. Bureau of Statistics has not published key annual inflation rates because it does not have comparable data from October 2025.
The reason was last year’s federal administration shutdown, which prevented standard collection of price data. As a result, the annual dynamics of most CPI categories for October 2026 cannot be calculated. The last available headline annual reading, for September, was 3.7%.
The lack of year-over-year comparisons makes it difficult to assess the full extent of inflation pressures, although the monthly data continues to provide the Fed with important information.
This means that the Fed will not have the November CPI reading at its December meeting. The October data may therefore be of particular importance for the decision on the next rate increase, which will also determine the macroeconomic environment for Bitcoin.
