The October CPI report, out November 10, showed US prices rising faster than economists expected. Bitcoin slipped below $74,000 afterward. The reason is the Federal Reserve: hotter inflation makes a December interest rate increase more likely, and higher rates tend to pull money away from riskier assets like crypto. The Fed decides on December 9.

Key facts

  • What: US consumer prices rose 0.4% in October; core prices rose 0.3%
  • When: Report released November 10, 2026; the Fed meets December 8 and 9
  • Bitcoin: Fell below $74,000 after the report
  • Funds: About $95 million left US spot bitcoin funds on Tuesday, a fourth day of outflows
  • Source: Bureau of Labor Statistics and CNBC

Bitcoin dropped after the latest CPI report showed US prices climbing faster than expected. The Consumer Price Index, the government's main measure of what people pay for everyday goods, rose 0.4% in October, the Bureau of Labor Statistics said on November 10. Core prices, which leave out food and energy, rose 0.3%.

Both numbers came in a tenth of a point above forecasts, crypto.news reported. Bitcoin slid below $74,000 afterward and dipped to about $72,700 on Tuesday, CoinDesk reported.

Why an inflation number moves crypto

The link is the Federal Reserve. When prices rise too fast, the Fed raises interest rates to slow things down. Higher rates make savings accounts and government bonds pay more, so some investors move money out of riskier things like stocks and crypto.

Before the report, Fed Governor Christopher Waller had said a larger, half-point increase should be on the table if core inflation stayed this high, Morningstar reported. After it, traders treated a quarter-point increase in December as the likely outcome. The odds of a half-point move rose to about 14% from almost zero, CNBC reported, citing CME Group data.

Money is leaving bitcoin funds too

US spot bitcoin funds, which let people buy bitcoin through a regular brokerage account, lost about $95 million on Tuesday. That was the fourth day in a row of money going out, according to an FXStreet report.

What happens next

The Fed meets on December 8 and 9 and announces its decision on the second day. Nobody knows what it will do, and one report doesn't settle it. More price data comes out before then.

We track each day's move, with sources, on our Why Is Crypto Down Today? page. If the swings make you wonder what gives bitcoin a price at all, start with how bitcoin has value. This is news, not advice to buy or sell.

Sources: Bureau of Labor Statistics, Consumer Price Index news release (October 2026 data, released November 10, 2026), CNBC, CPI inflation report: October 2026 (November 10, 2026), crypto.news, Bitcoin price falls below $74,000 as hot US CPI fuels Fed rate hike fears (November 2026), Morningstar, Hot October CPI seen tilting Fed to more rate hikes in 2027 (November 2026), CoinDesk, Bitcoin sits out stock rebound as ETF outflows continue (November 11, 2026), FXStreet report carried by ad-hoc-news, Bitcoin price steadies near USD 74,000 as hot CPI revives rate fears (November 2026).