Daily Cryptocurrency Market Report – November 11

Key Takeaways

① Price trend: U.S. October CPI exceeded expectations, strengthening expectations for a December Fed rate hike. BTC briefly fell to $73,518, its lowest level since late August, and is currently at $73,541.99 (-1.84%); ETH fell 3.35% below $2,100, while XRP (-4.03%) and SOL (-3.44%) led the declines. All six major cryptocurrencies closed lower.

② Fund flows: BTC spot ETFs recorded net outflows of $201 million on 11/09, marking the third consecutive day of outflows (the previous day: -$412 million), with cumulative net outflows of $1.084 billion over the past five trading days; ETH spot ETFs recorded net outflows of $185 million on 11/09; no verified ETF data is available for 11/10.

③ Today: U.S. bond markets are closed for Veterans Day, while stock markets remain open; European Central Bank President Lagarde is scheduled to speak. Tomorrow, watch for the U.K. preliminary third-quarter GDP figure and U.S. initial jobless claims. The Fear & Greed Index fell from 32 to 29 (Fear).

Market Overview

Fear & Greed Index 29 (Fear) · BTC spot ETF net outflows on 11/09: -$201 million · ETH spot ETF net outflows on 11/09: -$185 million

The main theme over the past 24 hours was inflation data coming in hot again. According to Cointelegraph U.S. October CPI rose 0.4% month over month, above the expected 0.3%; core CPI rose 0.3% month over month, also above the expected 0.2%. Because the 2025 government shutdown resulted in a lack of October sampling data from last year, no year-over-year figure was released this time (Fox Business).

After the data was released, BTC fell to $73,518 at the U.S. stock market open.Cointelegraph citing TradingView data, said this was the lowest level since August 21, after which BTC briefly reclaimed $74,000. According to Finwire citing CoinGecko data, BTC’s range over the previous 24 hours was approximately $73,587–$75,477. Altcoins came under greater pressure: CoinPaprika data showed ZEC down 10.57% over 24 hours; citing CoinGecko data, Cointelegraph reported that the total cryptocurrency market capitalization was approximately $2.57 trillion, down 1.6% over 24 hours.

On the macro front, Federal Reserve Governor Christopher Waller had already expressed support for a 25-basis-point rate hike at the December 9 meeting before the CPI release. According to Cointelegraph citing CME FedWatch, as of 16:28 UTC on 11/10, markets priced in an 88.3% probability of a 25-basis-point rate hike in December and an 11.7% probability of a 50-basis-point hike; the current federal funds target range is 3.75%–4.00%. Nvidia fell nearly 4% intraday on the same day, indicating that risk appetite for technology stocks remained weak.

On the fund-flow front, BTC spot ETFs recorded net outflows for three consecutive trading days,TokenPost Citing SoSoValue data, net outflows on 11/09 totaled $201 million, including $213 million in outflows from IBIT; cumulative net outflows since November have reached approximately $1.483 billion (TokenPost). The total market capitalization of stablecoins is approximately $289.8 billion, down 1.62% over the past seven days (Finwire, citing DefiLlama), while incremental over-the-counter capital has yet to return. The Fear & Greed Index fell from 32 to 29, with sentiment remaining in the “Fear” zone.

Next, watch two things: First, whether support around $73,000 can hold—several analysts view it as a key level. If it breaks decisively, the downside could extend toward $69,000–$70,000. Second, Fed officials are scheduled to speak frequently this week, followed by the U.S. PPI report on Friday. If they continue to send hawkish signals, expectations for the size of a December rate hike could be revised further upward, weighing on risk assets.

Top 10 Tokens by Market Cap

Ranked according to CoinPaprika market-cap rankings (CoinMarketCap data could not be retrieved; stETH, wstETH, WBTC, WBETH, and other staked/wrapped derivative tokens have been excluded, while stablecoins have been retained), as of 2026-11-11 00:44 UTC. Rankings may have changed amid sharp volatility.

Analysts’ Views

• $73,000 Is the Divide Between Bulls and BearsMatt Mena, senior crypto research strategist at 21Shares, pointed out that $73,000 is close to the historical high before the 2024 election and the April 2025 low. If BTC remains below this level, it could move toward around $69,000—the 2021 cycle high. Conversely, if it climbs back above $78,000, it could challenge $85,000 before year-end (The Block).The risk is that technical levels can easily fail under a macro shock, and the price may quickly move through the aforementioned range.
• U.S. Treasury yields and a stronger dollar are intensifying selling pressure: Bitget analyst Lewis Huang said that higher yields and a stronger dollar could intensify recent selling pressure. The 200-day moving average, at approximately $73,200, is a key support level; a sustained break below it would increase the risk of a deeper pullback (The Block). The risk is that if subsequent data weakens and yields decline, this logic could quickly reverse.
• The options market is still buying downside protection: Marc des Ligneris, managing director of CoinShares, noted that the one-month 25-delta skew has risen again, indicating that investors remain willing to pay a premium for downside protection (Finwire). The risk is that if prices rebound when hedging demand is concentrated, it could trigger short covering, causing price action to diverge from sentiment indicators.

The views above are from third parties and do not represent Hotcoin’s position.

News Brief

• U.S. October CPI rose 0.4% month over month, while core CPI rose 0.3% month over month—both 0.1 percentage points above expectations—sending BTC to its lowest level since late August (sources:Cointelegraph,The Block). Persistent inflation reinforced expectations of further rate hikes, while leverage and arbitrage funds faced pressure in a high-interest-rate environment.
• Federal Reserve Governor Waller said he supports a 25-basis-point rate hike in December regardless of the CPI data, and would consider a 50-basis-point hike if core inflation reaches 0.3% or higher; CME FedWatch showed that the probability of a December hike had risen to nearly 90% (source:Cointelegraph). Core CPI landed exactly at 0.3%, potentially fueling market bets on a larger rate hike.
• BTC spot ETFs recorded $201 million in net outflows on 11/09, marking a third consecutive day of outflows. IBIT saw $213 million in single-day outflows, while only MSBT recorded inflows, at $22.10 million; on the same day, ETH spot ETFs posted $185 million in net outflows, with ETHA accounting for $119 million of outflows (sources:TokenPost,KuCoin citing Farside). Institutional funds continued to withdraw, leaving little short-term buying support.
• Six companies, including Coinbase and Kalshi, filed an amicus brief supporting the CFTC’s push to introduce perpetual futures on U.S. individual stocks (source:Cointelegraph). If regulators approve the proposal, the scope of derivatives businesses operated by crypto trading platforms will expand further.
• The fallout from Binance’s $6.3 billion hacking incident continues: CertiK called on exchanges to set hard dollar limits for hot wallets; Elliptic said North Korean hackers used six NEAR-based meme coins to launder approximately $430,000 (source:Cointelegraph). Exchange custody security standards remain a key industry concern.

Today’s Focus

The above covers events from 11/11 (Wednesday) and 11/12 (Thursday). No high-impact data releases from Japan, China, or the eurozone were found for those two days (the eurozone’s preliminary third-quarter GDP report and the U.S. October PPI are both scheduled for Friday, 11/13). Forecasts are from Trading Economics (via Global Macro Week Ahead Reposted from）and CoinDesk. Announced yesterday: U.S. October CPI rose 0.4% month over month (expected 0.3%, previous 0.6%), while core CPI rose 0.3% month over month (expected 0.2%, previous 0.3%); due to the lack of a base-period figure resulting from the 2025 shutdown, the BLS did not publish year-over-year figures.

Frequently Asked Questions

What is the BTC price today? BTC is priced at $73,541.99 (24-hour -1.84%) (data as of 2026-11-11 00:44 UTC, source: CoinPaprika).

Why did Bitcoin fall today? Both the U.S. October CPI and core CPI came in above expectations, while Federal Reserve Governor Waller supported a December rate hike, boosting market expectations for a rate increase. At the same time, spot BTC ETFs recorded net outflows for three consecutive days, with insufficient buying support.

What is the current market sentiment? The Fear & Greed Index stands at 29/100 (Fear), down further from 32 (Fear) the previous day.

How are spot BTC ETF fund flows? On 11/09, net outflows totaled $201 million, marking a third consecutive day of outflows and narrowing by about half from the $412 million outflow on the previous trading day; cumulative net outflows over the past five trading days reached $1.084 billion. Verified data for 11/10 has not yet been found.

Risk Disclaimer: This article is merely a compilation of market information and does not constitute any investment advice; digital asset prices are highly volatile, so please carefully assess your own risk tolerance.

Related Reading:

• Crypto Daily｜Nvidia turmoil triggers over $1 billion in liquidations, BTC touches an 11-week low before returning to around $75,000, U.S. CPI to be released tonight (11/10)
• Crypto Daily｜ETH weekend longs liquidated as price plunges over 4%, BTC ETFs see $1.28 billion in weekly outflows, BTC falls below $75,000 (11/09)