Bitcoin slides below $74,000 as US inflation data exceeds forecasts (11 Nov)
- Bitcoin dropped to $73,363 on November 10 following hot inflation data.
- The US Consumer Price Index rose 0.4% in October, exceeding the 0.3% forecast.
- Federal Reserve Governor Christopher Waller suggested a 50-basis-point hike in December.
- Ethereum and Solana prices fell by 3.7% and 4% respectively amid market volatility.
- Analysts warn that Bitcoin could face further pressure toward $69,000 if it breaks $73,000.
Bitcoin fell below $74,000 on November 10, 2026, as hotter-than-expected inflation data caused crypto markets to tumble. The cryptocurrency was trading at $73,363, marking a 1.6% decline.
The Motley Fool, Decrypt, and The Block all reported that this price drop followed the release of inflation figures which fueled market concerns regarding a potential interest rate hike by the Federal Reserve.
US Consumer Price Index rises 0.4% in October
The United States Consumer Price Index rose 0.4% in October, exceeding the 0.3% forecast by economists. This figure represented a slower increase than the 0.6% rise recorded in September.
Federal Reserve Governor Waller signals 50-basis-point hike
TradingView reported that Waller expressed support for a December interest rate hike as Bitcoin slid toward $74,000.
Waller stated, "In that case, I believe a 50-basis-point hike in the policy rate should be considered at the December meeting". He added, "Hiking only 25-basis-points would put our credibility at risk, a risk I am not eager to take".
Solana and Ethereum prices decline alongside Bitcoin
Market fears regarding potential Federal Reserve interest rate hikes caused Solana and Aave prices to slide on November 10, 2026. Ether dropped 3.7% to $2,042, while Solana fell more than 4% to trade below $83 on the same day.
Matt Mena, a senior crypto research strategist at 21Shares, warned that a break of the 50-week moving average could pressure Ethereum toward $2,000 and potentially $1,800.
Analysts warn of potential further Bitcoin price drops
Analysts warn that Bitcoin could drop to $70,000 following the release of a hotter-than-expected Consumer Price Index report on November 10, 2026.
Matt Mena of 21Shares identified the $73,000 level as significant because it aligns with the pre-election 2024 all-time high and April 2025 lows. The firm warned that a sustained break below $73,000 could push Bitcoin toward $69,000, which is near its 2021 cycle high.
21Shares also suggested that if Bitcoin maintains the $73,000 level and equities rebound, it could retest $78,000, with a potential to reach $85,000 by the end of the year.
Legal challenges persist for CFTC and crypto exchanges
Coinbase, Kalshi, Kraken parent Payward, DRW Holdings, Jump Trading, and Paradigm Operations filed a legal brief supporting the Commodity Futures Trading Commission. This filing follows a federal judge's finding that the agency likely exceeded its statutory authority by allowing single-stock perpetual futures to trade as security futures.
The Capital Markets Alliance Association, which includes members Cboe and Citadel Securities, sued the commission last week to challenge its authority. The commission had announced on November 3 that these single-stock perpetual contracts could begin trading on United States-regulated exchanges for the first time.
CertiK advises exchanges on cold-storage security
The firm stated, "Cold storage is a useful measure of online exposure, but it is not a standalone security score".
November historical performance and market context
Paul Howard, senior director at Wincent, said institutional participation and the use of derivatives are reshaping bitcoin's volatility profile. He added that these tools allow investors to manage exposure through hedging rather than just buying or selling the underlying asset.
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