Bitcoin near $73,400 as fear deepens and banks back $270M stablecoin

Bitcoin traded at $73,373 in the CoinGecko snapshot at 01:13 UTC on 11 November, holding just above its post-CPI low as sentiment slipped back toward deeper fear. The Fear & Greed Index fell to 29 from 32, while news flow turned to a $270 million bank-backed stablecoin venture and fresh pressure on tech stocks.

Bitcoin

According to CoinGecko, Bitcoin is down 2.4% over 24 hours and 5.07% over seven days. The 24-hour range ran from $72,744 to $75,024, so the price sits a little over $600 above the low. Market value stands at about $1,475.6 billion, with $30.7 billion traded in 24 hours. BTC/USD chart.

The drop still traces back to Tuesday's inflation data. CoinDesk reports that US CPI rose 0.4% in October, above expectations, with core up 0.3%, and that Fed Governor Chris Waller suggested a 50-basis-point December move could be appropriate. Cointelegraph says the data raised the odds of a half-point hike. Our sister site covers the currency side in how the dollar reacted to hot CPI and Waller's comments.

Ether and the majors

Ether fell harder than Bitcoin and is down almost 10% on the week, trading between $2,010.36 and $2,128.54 over 24 hours. XRP is the weakest major over seven days.

BNB has held up best on both windows. Every major in the table is lower over 24 hours and seven days.

Breadth and sentiment

Total crypto market value is $2.466 trillion, down 4.78% in 24 hours, a steeper fall than Bitcoin's. Bitcoin dominance is 59.7% and Ether dominance 10.1%.

The Fear & Greed Index reads 29 (Fear), down from 32 a day earlier. Over eight days it has swung from 34 on 4 November to a neutral 50 on 5 November, then to an extreme-fear 25 on 7 November, before recovering only into the high 20s and low 30s.

News drivers

• Bank stablecoin. Cointelegraph reports that Project Faro, backed by Goldman Sachs, Citigroup and BBVA, has secured $270 million to launch a US dollar stablecoin in the first half of 2027. Decrypt says the funding covers five years of operations as banks move to challenge Tether and Circle. CoinDesk adds the issuer is expected to be incorporated in the US.
• Tech pressure. Decrypt reports that Nvidia has erased its 2026 gains as a suspected Chinese espionage case brings scrutiny of CEO Jensen Huang.
• Security. Across Protocol warned users to avoid its app while it investigates a potential incident affecting its domain, with users reporting drained wallets, according to Cointelegraph.
• Prediction markets. Citing Politico, Cointelegraph reports the CFTC warned Kalshi of imminent charges. Kalshi says the issue involves procedural errors on a handful of contracts.
• Corporate Bitcoin. Trump Media booked $409.7 million in quarterly income, largely from crypto investments, Decrypt reports.

What to watch next

1. The Fed's December meeting. CoinDesk says a hike appears assured, with a 50 bp move discussed by Waller.
2. Across Protocol's investigation into the reported wallet drains.
3. Kalshi and the CFTC, after Politico's report of imminent charges.
4. Mercado Bitcoin, which Cointelegraph says will resume cash withdrawals next week after a $49 million hack, while crypto transfers stay suspended.
5. Solana Breakpoint, ahead of which Jupiter is launching four products, according to Decrypt.