Bitcoin slips below $75,000 as crypto braces for US CPI test

Bitcoin slipped back below $75,000 as traders waited for the US October inflation report. CoinDesk reports that analysts see the data as a test, and warn that a lasting recovery depends on liquidity and spot ETF demand rather than short-term macro relief.

Sentiment improved slightly even as prices drifted lower. The Fear & Greed Index rose to 32, its best reading since 5 November.

Bitcoin

According to CoinGecko data as of 03:33 UTC on 10 November, Bitcoin traded at $74,611. That is down 0.53% over 24 hours and 2.91% over seven days. The 24-hour range ran from $73,709 to $75,477. Trading volume was $28.6 billion and market capitalisation stood at $1,500.4 billion.

The price sits about $380 below the level in our previous recap, when Bitcoin had bounced from an 11-week low. Decrypt described Bitcoin as "in limbo" near $75,000 on Monday, even as US stocks rallied on lower oil prices. BTC/USD chart.

Ether and the majors

Ether fell 1.27% to $2,116.31 and is down 5.99% on the week. XRP remains the weakest major over seven days, down 12.46%. Cardano was the only major in the green over 24 hours.

ETH/USD chart.

Breadth and sentiment

Total crypto market capitalisation was $2.511 trillion, down 2.23% in 24 hours, a steeper drop than Bitcoin's own. Bitcoin dominance stood at 59.6% and Ether dominance at 10.3%.

The Alternative.me Fear & Greed Index read 32 (Fear), up from 29 a day earlier. The recent path:

• 5 November: 50 (Neutral)
• 6 November: 28 (Fear)
• 7 November: 25 (Extreme Fear)
• 8 November: 28 (Fear)
• 9 November: 29 (Fear)
• 10 November: 32 (Fear)

The index has now risen for three straight days but remains well below last week's neutral reading.

News drivers

Macro: inflation data in focus

CoinDesk says Bitcoin trades below $75,000 ahead of the October CPI release. Decrypt reports that Tuesday's report will test market bets on a December Fed rate hike. Currency markets are watching the same release, as our sister site covers in the dollar's retreat ahead of the CPI test.

Miners feel the price drop

Cointelegraph reports that HIVE and MARA both mined more Bitcoin but earned less mining revenue. The firms also faced rising electricity costs while expanding their AI infrastructure businesses.

Institutional and tokenization news

• Tokenization firm Securitize announced the River One acquisition and a $50 million stock buyback as quarterly revenue rose 13%, CoinDesk reports. Its shares jumped 10% after hours.
• PNC Bank is piloting USDC payments on Ethereum for corporate and institutional clients, with each token converted to one US dollar before deposit, according to Cointelegraph.
• Bitmine added $20 million in ETH, taking its holdings to 6.07 million ETH, or 4.97% of supply, Decrypt reports.

Hack fallout

North Korean hackers used six homemade memecoins to launder 117,000 NEAR, worth about $430,000, from the $6.3 billion Binance hack, CoinDesk reports, citing Elliptic. Separately, Cointelegraph says Mercado Bitcoin has begun a phased reopening but has not given a timeline for withdrawals.

What to watch next

1. US October CPI. Both CoinDesk and Decrypt flag the report as the next test for Bitcoin and for bets on a December Fed hike.
2. Spot ETF demand. Analysts cited by CoinDesk tie any sustained recovery to ETF flows and liquidity.
3. Mercado Bitcoin withdrawals. Cointelegraph notes the exchange has yet to say when withdrawals resume.
4. Solana tokenized stocks. Formation Securities plans a Solana-based venue for tokenized shares under an SEC exemption, with a launch planned for early 2027, according to Cointelegraph.