NEW YORK, United States / CryptoWire.AI / – Crypto markets fell on Tuesday, November 10, as stronger-than-expected U.S. inflation figures lifted bets on another rate hike by the Federal Reserve. Bitcoin dropped 1.83% to $73,874.38 by early evening, slipping below the $74,000 mark. Ether lost 3.43% to $2,059.16 and Solana declined 3.69% to $83.37. The losses came as investors moved away from riskier assets and priced in tighter monetary policy.
Data from the Bureau of Labor Statistics showed consumer prices rose 0.4% in October, above forecasts of 0.3%. Core inflation, which excludes food and energy, climbed 0.3%, compared with the 0.2% economists had predicted. Shelter costs accounted for more than 30% of the increase. No annual figure was published because October 2025 data was not collected during the government shutdown. Economists estimate the yearly rate is in the high 3% range.
Bond markets reacted quickly. Treasury yields jumped as investors priced in more aggressive tightening, with the 10-year yield up about 9 basis points within half an hour of the release. The two-year yield recorded its biggest gain since April 2025. A stronger U.S. dollar added to the pressure on Bitcoin and other dollar-denominated assets. Within an hour of the data, about $178 million of crypto long positions had been liquidated.
Waller floats a half-point move
Federal Reserve Governor Christopher Waller said in a speech in London that a 50 basis point increase should be considered at the December meeting. The Fed’s benchmark rate currently sits at 3.75% to 4.00%. Markets have fully priced in a quarter-point hike at the December 8–9 meeting, Reuters reported. The probability of a larger half-point move rose to nearly 15% on Tuesday morning. Higher rates tend to weigh on speculative assets such as cryptocurrencies.
Exchange-traded funds tracked the decline. BlackRock’s iShares Bitcoin Trust fell 1.51%, while Fidelity’s Wise Origin Bitcoin Fund dropped 1.49%. The iShares Ethereum Trust lost 3.27%. Investors have pulled about $1.5 billion from U.S. spot Bitcoin ETFs since November 2, including about $201 million on Monday, removing an important source of buying. A return of ETF inflows, together with stronger spot demand, would offer a clearer sign that conditions are improving.
Analysts watch key support levels
Analysts are watching $73,000 as a key level for Bitcoin. Matt Mena, senior crypto research strategist at 21Shares, said a sustained break could open the way to $69,000, near the 2021 cycle high. Lewis Huang of Bitget said the 200-day moving average near $73,200 is a key support to watch. He added that higher yields and a stronger dollar could extend recent selling pressure. Mena sees $2,000 as support for Ether.
Losses were wider across the top 10 tokens. XRP slid 2.9% to $1.06, leaving it 17% lower over the past week, CoinGecko data showed. Ether is down about 10% over the same period. BNB fell 1.7% to $677.54, while Zcash tumbled 9.4%. Tron was one of the few gainers, rising 0.4%. Traders will look to October producer prices on November 13 for further clues. Without fresh demand, any short-term rebound may be hard to sustain.