BITCOIN RETREATS TOWARD 73,500 USD AS US OCTOBER CPI EXCEEDS CONSENSUS EXPECTATIONS
Digital asset markets experienced broad downward pressure after the United States released October Consumer Price Index (CPI) metrics on the evening of November 10 reflecting higher-than-anticipated inflation readings. Spot Bitcoin (BTC) retreated from the 75,000–76,000 USD zone to an intraday trough near 72,800 USD before establishing consolidation around 73,700 USD.
According to data published by the US Bureau of Labor Statistics, headline CPI increased by 0.4% month-over-month, exceeding the consensus forecast of 0.3%. More significantly, core CPI (excluding food and energy) advanced by 0.3%, surpassing the 0.2% expectation, primarily driven by a 0.3% increase in shelter costs and a 0.5% uptick in food prices. With core inflation hitting the exact 0.3% mark previously highlighted by Federal Reserve Governor Christopher Waller, market participants repriced monetary policy paths. Data from the CME FedWatch Tool shows the implied probability of a 50-basis-point interest rate increase in December rose to 14.7%, while expectations for a 25-basis-point adjustment declined to 85.3%.
Macro volatility catalyzed distribution across major digital assets. Ethereum (ETH) dropped toward 2,042 USD, Solana (SOL) fell below 83 USD, and Zcash (ZEC) contracted by more than 11.3%. Across derivatives exchanges, aggregate liquidations over 24 hours reached 728.17 million USD, with long positions accounting for 579.7 million USD. US spot Bitcoin ETFs also logged 201 million USD in net outflows on November 9. Market analysts now identify the 200-day moving average at 73,200 USD and the 73,000 USD horizontal support zone as critical structural boundaries ahead of the upcoming Federal Open Market Committee meeting on December 8–9.
DYOR. $BTC $ZEC $ETH
Digital asset markets experienced broad downward pressure after the United States released October Consumer Price Index (CPI) metrics on the evening of November 10 reflecting higher-than-anticipated inflation readings. Spot Bitcoin (BTC) retreated from the 75,000–76,000 USD zone to an intraday trough near 72,800 USD before establishing consolidation around 73,700 USD.
According to data published by the US Bureau of Labor Statistics, headline CPI increased by 0.4% month-over-month, exceeding the consensus forecast of 0.3%. More significantly, core CPI (excluding food and energy) advanced by 0.3%, surpassing the 0.2% expectation, primarily driven by a 0.3% increase in shelter costs and a 0.5% uptick in food prices. With core inflation hitting the exact 0.3% mark previously highlighted by Federal Reserve Governor Christopher Waller, market participants repriced monetary policy paths. Data from the CME FedWatch Tool shows the implied probability of a 50-basis-point interest rate increase in December rose to 14.7%, while expectations for a 25-basis-point adjustment declined to 85.3%.
Macro volatility catalyzed distribution across major digital assets. Ethereum (ETH) dropped toward 2,042 USD, Solana (SOL) fell below 83 USD, and Zcash (ZEC) contracted by more than 11.3%. Across derivatives exchanges, aggregate liquidations over 24 hours reached 728.17 million USD, with long positions accounting for 579.7 million USD. US spot Bitcoin ETFs also logged 201 million USD in net outflows on November 9. Market analysts now identify the 200-day moving average at 73,200 USD and the 73,000 USD horizontal support zone as critical structural boundaries ahead of the upcoming Federal Open Market Committee meeting on December 8–9.
DYOR. $BTC $ZEC $ETH
