Bitcoin barely flinches at hot CPI as ETF selling slows
Nov 11, 2026
Bitcoin BTC($73,879.51)took Tuesday’s U.S. hot inflation report and flush-out of leverage positions in its stride, falling less than 1% over the past 24 hours. The question now is whether that performance is a sign of resilience or just a pause in selling.
Consumer prices rose a greater-than-forecast 0.4% last month, prompting traders to price in a 90% chance of a quarter-point Fed interest-rate increase, according to CME FedWatch.
The largest cryptocurrency dropped to around $72,700 on Tuesday, and was recently trading around $74,700. Futures traders took the brunt as liquidations jumped 288% to $725 million, according to CoinGlass.
What has changed is the pace of ETF selling. While U.S. spot bitcoin ETFs lost $95 million on Tuesday for a fourth straight day of net outflows, that’s down from $201 million on Monday, $412 million on Friday and $430 million on Thursday.
Stablecoins are tight too. According to CryptoQuant, the market capitalization of Tether’s USDT has dropped $6.6 billion over 60 days, the biggest 60-day contraction since its data began in 2022 and more than double the drop after the collapse of FTX four years ago.
“Stablecoin growth funded every rally this cycle,” CryptoQuant wrote on X. The Coinbase Premium, a gauge of U.S. demand, has been negative for 30 straight days.
That leaves bitcoin hovering around its 200-day moving average, near $73,200 by CryptoQuant’s calculation, which the firm says separates a shallow correction from a deeper one. It is also below the 365-day average of $76,400, which CryptoQuant says must be reclaimed to restore a bullish structure.
CryptoQuant’s Bull Score Index, a gauge of cycle strength, has dropped to 20 from 90 on Oct. 13. That is the same reading that hit in April 2025, just before the market bottomed, though the firm warns the same signals can also be how a deeper correction starts.
Stocks, in contrast, are bouncing, with Nasdaq 100 futures up 1.7% after CoreWeave’s earnings beat.
Options traders are buying protection from declines, though not frantically. Eight of the 10 most active bitcoin contracts on Deribit expiring through Nov. 27 are puts at strikes of $69,000 to $74,000, yet implied volatility is only around 36% to 38%.
Analysts at BRN said on Tuesday that bitcoin needs “real buying, not a lucky break.” Stay alert!
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Developcoins Marketview
Bitcoin’s ability to hold near $74,000 despite rising inflation and significant market liquidations highlights continued uncertainty in the crypto market. The Developcoins team believes that slowing Bitcoin ETF outflows could indicate easing selling pressure, but declining stablecoin liquidity and weak institutional demand remain important concerns. Traders should watch key support and resistance levels, ETF inflows, and Federal Reserve decisions, as sustained buying pressure will be essential for a stronger market recovery.
