Bitcoin Slips to About $73,700 After Hot CPI as $723 Million Is Liquidated and ETFs Lose $201 Million
Bitcoin fell almost 2% in 24 hours and ether 2.4% after October inflation beat forecasts, with long positions hit hardest and BlackRock's fund bleeding for a seventh session.
Wednesday, November 11, 2026/2 min read
Bitcoin has not found a floor since the weekend. After closing its fifth straight losing week at $74,968, as we reported on Monday, the price slid to about $73,700 on Wednesday morning, down nearly 2 percent in 24 hours, and briefly dipped below $73,000, according to crypto.news. The trigger was Tuesday's hotter-than-expected inflation report.
Ether slipped to $2,065.22, down 2.4 percent, in Analytics Insight's morning snapshot, and Solana lost 3.5 percent. These are trailing 24-hour moves, not a close, and prices are still moving.
Why is bitcoin falling today?
October consumer prices rose 0.4 percent against a 0.3 percent forecast, and core prices rose 0.3 percent against 0.2 percent. Traders now see a December Federal Reserve rate rise as fully priced in, and the 2-year Treasury yield rose to 4.73 percent. For an asset that pays nothing, that is a poor backdrop.
Crypto lagged even Monday's stock rebound. KuCoin's news desk noted that the S&P 500 posted a very strong day on Monday while bitcoin stayed near $74,200, and that futures liquidations had fallen sharply to about $184 million before the data, a sign of quiet positioning. The CPI release changed that. CoinGlass data cited by crypto.news showed $723.37 million of liquidations in 24 hours across about 115,600 traders, about $570 million of it longs. Bitcoin accounted for $203 million, including $175 million of long positions.
Are bitcoin ETFs still seeing outflows?
Yes. Farside Investors data, cited by crypto.news and KuCoin, showed US spot bitcoin ETFs lost a net $201 million on Monday. BlackRock's IBIT had $213.2 million of outflows, its seventh straight session of withdrawals, while Morgan Stanley's fund took in $22.1 million. For the first week of November, outflows were about $1.28 billion, with BlackRock's fund accounting for roughly $1.21 billion.
Large holders are also trimming, according to the on-chain analyst Ali Martinez, quoted by crypto.news: bitcoin whales reduced their holdings by more than 34,000 BTC, about $2.6 billion, over the week. That measures changes in large-wallet balances, not direct sales on exchanges. Analytics Insight reported separately that miner MARA sold 13,597 BTC for roughly $1.1 billion while Strategy bought 1,036 BTC, and that the Crypto Fear and Greed Index read 29, in the fear zone.
What bitcoin price levels are traders watching?
Analysts quoted by crypto.news put support near $73,200, with the recent hourly low at $72,689, and resistance at $74,005 to $74,316, then $75,000. Analytics Insight listed $73,008 as support, with $72,000 and $70,000 as lower targets and $75,000 and $76,400 to $77,000 as the recovery zone. The relative strength index near 34 is approaching oversold, but an oversold reading is not a reversal signal.
The coming days bring producer prices on Friday and a run of Fed speakers, and every hawkish word has pushed the digital asset lower. Whether bitcoin can recover $75,000 before then depends on the ETF funds turning from sellers to buyers. This article is a market report, not investment advice.
Published in The Outspoken Digest
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