Bitcoin at $73,700, lowest since August: 3 morning figures after US inflation
US inflation at +0.4%, Fed ready to tighten its tone, ETF on the run: bitcoin slides to its lowest since August 20. The 3 numbers to remember this morning.
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The drop over 24 hours remains modest (-1.4%). Over one month, BTC lost 12% and it is trading almost 42% below its October 2025 record.
First number, the heaviest. Core inflation, which excludes energy and food, increased by 0.3% when the consensus was forecasting 0.2%. And you won't find an annual figure this time. The Bureau of Labor Statistics had not released a report in October 2025 because of the shutdown, so there is nothing to compare. The consensus of +3.9% over one year that we relayed yesterday will not have an official response before the November report.
The market especially compared with the words of Christopher Waller. On Monday, the Fed governor warned that he would favor an increase in December even with moderate inflation. According to him, a hot figure would justify 50 basis points. The number is hot. Traders are now giving 85% on the quarter point and 15% on the half point, according to CME FedWatch.
Bond rates did the rest. The 10-year US yield has crossed the 5% mark (5.015%, +15 basis points over the session) and the 2-year rate climbs to 4.76% (+21 basis points). Bitcoin has detached itself from stocks for a week. The Nasdaq had rebounded by 2.7% the day before and BTC had not followed. “For bitcoin, higher yields and a stronger dollar could accentuate recent selling pressure,” summarizes Lewis Huang of Bitget, cited by The Block.
The second number comes from demand. U.S. spot Bitcoin ETFs lost another $201 million on Monday according to Farside Investors, and BlackRock's fund alone returned $213 million. The Morgan Stanley Bitcoin Trust raised 22 million and wrote off the balance. This is the seventh buyback session in a row for IBIT, representing $1.66 billion since October 30. The balance sheet for the year went into the red, at -1.1 billion dollars, while these products had earned more than 20 billion in 2024 then in 2025. Tuesday's data falls in the morning.
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- Journal du Coin11 Nov, 07:02
| Publisher Journal du Coin (general tier) | +72 |
| Checkable figures cited | +3 |
| Total | 75 |
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