Bitcoin slides toward $73,000 after hot US CPI sparks $700 million liquidations
ITF Team3 min read
Bitcoin fell toward $73,000 on 11/10/2026 as October's CPI surprised on the upside, prompting about $700 million in crypto liquidations and reigniting Fed rate concerns.
Key takeaways
- Bitcoin slipped toward $73,000 on 11/10/2026 after the October CPI came in hotter than expected.
- Around $700 million of crypto‑linked positions were liquidated following the CPI release.
- Ripple (XRP) dropped below $1.00, while Ethereum hovered near $2,100 on the same day.
- Pi Network recovered more than 7% after hitting a low of $0.0624 the previous day.
Bitcoin (BTC) slipped toward the $73,000 level on Thursday, 11/10/2026, after the U.S. Consumer Price Index for October posted a higher‑than‑expected increase. The surprise inflation reading revived market worries that the Federal Reserve may keep rates higher for longer, and it triggered roughly $700 million of forced liquidations across major crypto exchanges.
Price action and immediate market reaction
The BTC/USD pair opened the session above $75,000 but quickly lost momentum as traders priced in a tighter monetary stance. By mid‑day the price had broken the $74,500 psychological barrier and continued down to $73,200, marking the lowest weekly close since August 2026. Ethereum (ETH) mirrored the move, edging down toward $2,100, while Ripple (XRP) slipped below the $1.00 mark, reinforcing a broad‑based sell‑off.
Liquidity providers reported that the CPI shock sparked a cascade of margin calls on leveraged long positions, especially on platforms offering up to 100× crypto leverage. The estimated $700 million in liquidations came primarily from short‑term holders who entered positions after the recent rally from the $60,000 level.
Why the CPI mattered for crypto
The October CPI rose 0.4% month‑over‑month, outpacing the consensus forecast of 0.2%. Higher inflation typically strengthens the U.S. dollar and raises real yields, both of which are bearish for risk‑off assets such as cryptocurrencies. A stronger dollar makes BTC more expensive for holders of other currencies, while rising Treasury yields increase the opportunity cost of holding non‑yielding assets.
Federal Reserve officials have signaled that the recent data could delay any rate cuts that markets had hoped for later in 2026. Even though the Fed has not yet announced a policy decision, the expectation of a prolonged high‑rate environment has prompted investors to shift from speculative assets to safer havens like the dollar and short‑term Treasuries.
Read also: Gold falls 3% as US CPI fuels Fed hike expectations
Technical backdrop and key levels
On the daily chart, Bitcoin is testing the 50‑day moving average around $73,500, a level that has acted as support in previous pullbacks. A break below $72,800 could open the path toward the next major demand zone near $70,000, a level that held in early 2025. Conversely, a bounce above $74,500 would re‑establish the short‑term bullish bias and could attract short‑covering rallies.
Ethereum’s chart shows a descending channel with the $2,100 line as the upper boundary. A breach of $2,000 would likely push the pair toward the $1,900 support zone, while a rally back above $2,150 could signal a short‑term recovery.
Broader crypto market dynamics
Beyond BTC and ETH, other major tokens felt the pressure. Ripple (XRP) stayed under $1.00, Cardano (ADA) and Solana (SOL) also posted modest losses as institutional investors appeared to reduce risk exposure after the CPI surprise. Pi Network (PI) was an outlier, rallying more than 7% after hitting an all‑time low of $0.0624 the day before, with open interest climbing to $6.21 million, suggesting renewed speculative interest.
The overall sentiment in the crypto market remains cautious. While the sell‑off was sharp, volume was moderate, indicating that many participants are waiting for clearer guidance from the Fed before committing new capital.
What to watch next
Traders should keep an eye on the Federal Reserve’s policy meeting scheduled for 12/12/2026, where any hint of a rate hike or a pause will likely move BTC and other risk assets. Additionally, the upcoming U.S. non‑farm payrolls report on 12/7/2026 could further shape expectations for monetary policy.
- Federal Reserve policy meeting – 12/12/2026
- U.S. non‑farm payrolls – 12/7/2026
- Bitcoin key support – $70,000; resistance – $74,500
- Ethereum key support – $2,000; resistance – $2,150
Frequently asked questions
Why did Bitcoin fall after the October CPI report?
The October CPI rose 0.4% month‑over‑month, above expectations, which strengthened the U.S. dollar and pushed real yields higher. Both factors are bearish for crypto, leading Bitcoin to slip toward $73,000 and triggering about $700 million in liquidations on 11/10/2026.
What levels are important for Bitcoin in the near term?
Bitcoin is testing the 50‑day moving average near $73,500. A break below $72,800 could open a path toward $70,000 support, while a rebound above $74,500 would restore short‑term bullish bias.
Official data sources
Related news
- Gold falls 3% as US CPI fuels Fed hike expectations
- Market overview: USD strength, gold dip and oil volatility on Nov 11, 2026
- Fed Bowman says CPI points to persistent US inflation pressures
- Bitcoin falls as US inflation fuels Fed rate‑hike fears
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This article is compiled from international market news for information only. It is not investment advice.