Bitcoin recovers to $74,200 as ETF outflows extend and hike odds near 90%
Bitcoin rose 1.7% to $74,188 as US ETF outflows ran a fourth day and rate-hike odds hit about 90%. Fear & Greed slipped to 29 from 32.
Live chart · BTCUSD, ETHUSD, SOLUSDT, XRPUSD · TradingView
Bitcoin climbed back to $74,188, up 1.7% over 24 hours, recovering from the $73,373 level in our previous recap. The bounce came even as US spot Bitcoin ETF outflows extended to a fourth day and traders lifted the odds of a US rate hike to around 90% after Tuesday's hot inflation print, according to CoinDesk.
Bitcoin
CoinGecko data as of 17:05 UTC shows Bitcoin traded between $73,088 and $74,328 over the past 24 hours. It is still down 7.51% over seven days. Its market value stands at $1,492 billion, with $26.1 billion in 24-hour volume.
Cointelegraph reports that Bitcoin held a narrow range as investors bought the dip in tech stocks and US bond yields climbed on the CPI data. CoinDesk notes that Bitcoin continues to test its 200-day moving average while CoreWeave and Nvidia lead a rebound in AI stocks. CoinDesk also says liquidations jumped. For the rates backdrop, see our sister site's report on the dollar holding its CPI gains as Fed hawks lift yields.
Ether and the majors
Ether rose 2.74% to $2,075.87 but remains down 14.37% on the week. Every major in the table gained over 24 hours, with Cardano and Solana leading. XRP still carries the deepest weekly loss.
| Coin | Price (USD) | 24h % | 7d % |
|---|---|---|---|
| Ether | 2,075.87 | +2.74 | -14.37 |
| BNB | 685.58 | +2.13 | -4.29 |
| XRP | 1.071 | +2.19 | -18.68 |
| Solana | 84.88 | +3.37 | -12.23 |
| Dogecoin | 0.068973 | +2.63 | -10.86 |
| Cardano | 0.179054 | +3.94 | -9.69 |
Outside the majors, Cointelegraph reports that Zcash fell nearly 15% and dropped below $1,000 for the first time since September, amid a broader sell-off in privacy coins.
Breadth and sentiment
Total crypto market capitalisation is $2.494 trillion, down 0.85% over 24 hours by CoinGecko's measure, even as the largest coins rose. Bitcoin dominance is 59.7% and Ether dominance is 10.2%.
The Crypto Fear & Greed Index reads 29 (Fear), down from 32 a day earlier. It has stayed in fear territory since November 6, after a neutral 50 on November 5, and touched extreme fear at 25 on November 7.
News drivers
- Tokenized stocks. OKXICE will open its tokenized securities venue on November 23 with more than 70 assets, including Strategy shares and 59 Direxion ETFs, CoinDesk reports. Decrypt adds that 67 companies objected to having their shares listed. Separately, Kraken parent Payward added 200 UK and EU stocks to xStocks, whose assets top $1.1 billion, according to CoinDesk.
- Banks. Deutsche Bank launched crypto custody for companies and institutions covering Bitcoin, Ether and select stablecoins, Cointelegraph reports. Cointelegraph also reports that Barclays raised its BlackRock Bitcoin ETF stake 48% to $187 million as of September 30, and Citigroup disclosed a new $119 million position in Fidelity's Bitcoin ETF.
- Network security. Bitcoin Core patched three bugs, the most serious of which could have halted a miner's ability to build new blocks, Decrypt reports. None involved coin theft.
What to watch next
- ETF flows. Whether the four-day outflow streak CoinDesk describes continues.
- Fed hike pricing. CoinDesk puts the odds of a US rate increase near 90% after the CPI data.
- OKXICE launch on November 23. The first trading day for its tokenized stock venue.
- AI and IPO news. Decrypt discusses what Anthropic's $1.4 trillion IPO could mean for crypto, while CoinDesk tracks the AI stock rebound alongside Bitcoin.
How we make this article: software gathers the market data and the news from the sources linked in the article, then cross-checks them. AI writes the text. People choose the sources, set the rules and run the process. Not investment advice.