TLDR
October CPI rose 0.4% and core CPI rose 0.3%, both above forecasts.
Core inflation matched the 0.3% level Fed Governor Christopher Waller flagged for a possible larger rate hike.
Bitcoin fell to an intraday low of about $72,836 before recovering near $73,300.
About $178 million in long crypto positions were liquidated within an hour of the report.
Analysts say a sustained break below $73,000 could open a path toward $69,000 or $70,000.
Bitcoin dropped below $73,000 on November 10 after US inflation data came in hotter than expected. The report hit a level that one Federal Reserve official had named as a possible trigger for a larger rate hike in December.
The October Consumer Price Index rose 0.4% from the previous month, above the 0.3% forecast. Core CPI, which leaves out food and energy, rose 0.3% against expectations of 0.2%.
Inflation Meets the Fed’s Warning Line
Before the report, Fed Governor Christopher Waller said he would back a 25-basis-point rate increase in December even if inflation cooled. He also said a stronger move may be needed if core prices rose 0.3% or more from September.
Waller added that a 50-basis-point increase should be considered in that case. October’s core reading landed right on that 0.3% line.
Reuters reported that market odds for a 50-basis-point hike climbed to nearly 15% by midmorning. A quarter-point increase at the December 8 to 9 meeting was already seen as almost certain.
FED RATE HIKE IS ALMOST CONFIRMED NOW
US inflation data was released, and it again came in higher than expectations.
US CPI rose 0.4% MoM, while the Core CPI rose 0.3% MoM.
Last week, the job data already came better than expected, which means the Fed’s biggest concern is… pic.twitter.com/vgTAVctnAR
— Crypto Rover (@cryptorover) November 10, 2026
Core CPI has now risen 0.3% for three months in a row, following similar gains in August and September. Shelter costs rose 0.3% in October and made up more than 30% of the monthly increase.
Food prices rose 0.5%, while energy costs climbed 0.7% after a 5.2% jump in September. Headline CPI had risen 0.6% in September.
The Bureau of Labor Statistics did not publish a yearly inflation figure. The 2025 government shutdown stopped the collection of October 2025 price data, leaving no base for an annual comparison.
Bitcoin’s Price Floor Under Pressure
Bitcoin traded near $74,264 before the release and fell to about $73,494 within five minutes. It later reached an intraday low of about $72,836 before recovering to around $73,294 by 11:01 a.m. ET.
Bitcoin Price on CoinGecko
The $73,000 level has history behind it. Matt Mena, senior crypto research strategist at 21Shares, said it sits near Bitcoin’s pre-election 2024 all-time high and its April 2025 lows.
Mena said a sustained break below that level could send Bitcoin toward $69,000, near its 2021 cycle high. Bitget analyst Lewis Huang pointed to the 200-day moving average near $73,200 as a key support to watch.
About $178 million in long crypto positions were liquidated within an hour of the CPI release, according to TokenPost. CoinDesk reported about $1.1 billion in futures liquidations in the 24 hours to November 9, before the data came out.
US spot Bitcoin ETFs saw about $201 million in net outflows on November 9, their third straight day of withdrawals. BlackRock’s iShares Bitcoin Trust recorded $213.2 million in redemptions, partly offset by inflows into other funds.
Other tokens also fell. Ethereum touched about $2,006 and traded near $2,027, while XRP fell to about $1.0336 before trading near $1.05.
Solana traded around $82.49 after touching an intraday low near $81.59. It was down about 5.2% over 24 hours.
Mena said a break of Bitcoin’s 50-week moving average could pressure Ethereum’s $2,000 support, with $1,800 the next level. If Bitcoin holds $73,000 and stocks keep rebounding, 21Shares sees a possible retest of $78,000 and a path to $85,000 by year-end.
November has been Bitcoin’s strongest month historically, with an average return of 34.4% since 2010. Paul Howard, senior director at Wincent, said that without a shift in policy, regulation or institutional flows, a gradual downward drift is more likely than a rally toward $100,000.
The post Bitcoin Slips Below $73,000 as Core Inflation Hits Fed’s Rate Hike Warning Line appeared first on Blockonomi .
