Bitcoin fell about 2.8% to near $73,150 on Tuesday after a hotter-than-expected US inflation reading cemented bets on a Federal Reserve rate hike in December.
MoneyTurkey Crypto Desk | 10 November 2026, prices at 16:05 UK time
Key points
- Bitcoin traded near $73,150 on Kraken and Bitstamp at 16:05 UK time, down about 2.8% from $75,250 at midnight UTC, after touching about $72,780.
- October consumer prices rose 0.4% on the month, above the 0.3% economists expected.
- Reuters, citing LSEG data, said traders were fully pricing a December rate hike.
What happened
The October consumer price index, released at 13:30 UK time, came in hotter than forecast. Earlier in the day Fed Governor Christopher Waller told a London audience he leans toward a quarter-point hike in December and that a hot print should put a half-point move on the table. MoneyTurkey is following his remarks and the market reaction live.
After the data, Reuters, citing LSEG data, said traders were fully pricing a December hike, with two quarter-point increases priced by March.
Market reaction
Bitcoin slid through $74,000 in the afternoon and traded near $73,150 at 16:05 UK time on both Kraken and Bitstamp, down about 2.8% on the day. Its low so far is about $72,780. CoinGecko also showed a fall of about 2.8% over 24 hours.
Wall Street fell with it. At 16:01 UK time the Nasdaq Composite was down 0.8% and the S&P 500 was down 0.65%, while the 10-year Treasury yield was near 4.99%, up about 13 basis points from Monday. Treasuries sold off across the curve after the CPI release.
Why it matters
Higher US rates raise the return on interest-bearing assets and the cost of borrowing, which tends to weigh on assets such as Bitcoin that pay no yield. The drop adds to a week of selling: BlackRock’s spot Bitcoin fund has posted seven straight days of outflows.
What to watch
- Pricing for the Fed’s December meeting
- Whether Bitcoin holds above its Tuesday low of about $72,780
- Flows into US spot Bitcoin funds
Related on MoneyTurkey
- Fed’s Waller Backs December Hike, Open to Half Point
- Treasuries Slide as Hot CPI Lifts December Hike Odds
- BlackRock Bitcoin ETF Outflows Hit $1.66B in Seven Days
For information only. Not investment advice.
Sources
- Prices: Kraken and Bitstamp public tickers, CoinGecko (16:05 UK time)
- Reuters, via CNA: Stocks cut gains, dollar and yields up as US CPI cements December rate hike bets
- Stock indexes and Treasury yield: CNBC and Yahoo Finance quote pages (16:01 UK time)
