Bitcoin Price Today Slips as Fed Hike Bets Weigh on Crypto
The bitcoin price today slipped below 74,000 dollars on Thursday, November 12, as the world's largest cryptocurrency failed to hold a brief rebound and extended a slide driven by hotter-than-expected United States inflation data and growing expectations that the Federal Reserve will raise interest rates again in December. Bitcoin traded at about 73,539 dollars, down 0.18 percent over 24 hours, after briefly climbing above 74,500 dollars and then giving back the gains. Ethereum, the second-largest cryptocurrency, was down 0.24 percent at about 2,049 dollars. The move stood in sharp contrast to the mood on Wall Street, where stocks had rallied a day earlier on strong earnings from artificial intelligence company CoreWeave. Crypto, for once, did not follow equities higher. Instead, traders focused on the same inflation numbers that had rattled bond markets, a firmer dollar, and a steady stream of money leaving spot bitcoin exchange-traded funds.
The session was defined by a failed attempt to recover. Bitcoin had spent the previous days drifting lower after the October consumer price report landed on Tuesday, and Thursday's early push above 74,500 dollars raised hopes buyers were stepping back in. Those hopes faded quickly. By the European trading session, bitcoin had slipped back below 74,000 dollars, near 73,600 dollars, and stayed pinned in the low 73,000s through the day. The broader crypto market told the same story, with total market capitalisation down 0.78 percent at about 2.43 trillion dollars, and the crypto Fear and Greed Index sitting at 28, firmly in "Fear" territory.
Bitcoin Price Today: Slips Below $74,000 After a Failed Rebound
The numbers behind the bitcoin price today paint a picture of a market under pressure from several directions at once. Bitcoin was trading at about 73,539 dollars, according to the crypto update carried by NDTV, down 0.18 percent over 24 hours, while other major tokens fared worse: Solana fell 0.38 percent and XRP lost 0.53 percent. Ethereum, meanwhile, hovered near 2,049 dollars, down 0.24 percent. Weakness was the common thread across the board, with no major token managing a meaningful gain.
Technicians pointed to two levels that now frame the market. Support sits near the observed low of about 73,120 dollars, with another support zone around 73,000 to 73,300 dollars, according to market experts. Resistance sits around 74,724 dollars, with a broader recovery range of 75,000 to 75,700 dollars that bitcoin would need to clear to change the near-term outlook. The most important level may be 75,600 dollars, the average acquisition price of short-term holders reported by Glassnode on November 11. Bitcoin is trading below that cost basis, which means recent buyers are underwater on their positions, and analysts warn that those holders approaching breakeven could add selling pressure during any rebound. It is a useful demand test rather than a guaranteed barrier, but it explains why the recovery has been so fragile: the coin is trying to climb through a zone where a large group of owners would be glad to sell.
The recent history makes the weakness easier to understand. Bitcoin has lost about 10.13 percent over the past month and is down 17.2 percent so far in 2026, with a one-year decline of 27.64 percent, according to market data. The slide has been a steady grind lower driven by a change in the monetary policy outlook rather than a single shock. In early November, bitcoin was trading near 75,400 dollars; by November 10 it had fallen to about 73,796 dollars, and November 11 closed near 74,015 dollars before Thursday's renewed slip. Each recovery attempt has run into the same wall of rate-hike expectations, and each failure has left the coin a little lower than before.
Crypto News: Hot Inflation Fuels Fed Rate Hike Bets
The main driver of the crypto news this week is the October inflation report, and the details matter because they changed the market's view of what the Federal Reserve will do next. United States consumer prices rose 0.4 percent in October from the previous month, above the 0.3 percent increase economists had expected. Core consumer prices, which strip out volatile food and energy costs, climbed 0.3 percent, topping the 0.2 percent forecast. The data was released on Tuesday, November 10, and the reaction was immediate: bitcoin was trading near 74,264 dollars just before the release and dropped to about 73,494 dollars within five minutes.
Federal Reserve Governor Christopher Waller added weight to the hawkish case, saying he would support a 25-basis-point increase at the December 9 meeting regardless of the consumer price data, and warning that substantially higher inflation could justify more robust action. He noted that the personal consumption expenditures index, the Fed's preferred gauge, had risen 0.5 percent in a single month and 3.7 percent over the year. Following his remarks, the probability of a 25-basis-point December hike implied by futures markets jumped from roughly 76 percent to 96 percent, with a smaller chance, around 10 to 13 percent, assigned to a larger half-point increase. All 101 economists surveyed by Reuters expected a quarter-point rise in December.
Higher interest rates are a headwind for bitcoin for two reasons. First, higher rates lift the dollar, and a stronger dollar makes dollar-priced assets more expensive for overseas buyers while pulling capital towards safer, interest-bearing holdings. The dollar index rose to about 103.03, and gold slipped below the 4,000-dollar mark as the greenback strengthened to a 19-month high. Second, higher rates reduce appetite for riskier assets that pay no interest, and bitcoin pays none. When the return on holding cash rises, the opportunity cost of holding a volatile digital token rises with it. That logic has been working against crypto all week, and it is why the same inflation report that rattled bonds also pushed bitcoin lower even as stocks found a reason to rally.
Bitcoin Price and ETF Outflows: The Steady Institutional Drag
If the inflation report was the spark, the steady outflow of money from spot bitcoin exchange-traded funds has been the slow-burning fuel behind the decline. United States spot bitcoin ETFs recorded about 95 million dollars in net outflows on November 10, and Ether ETFs lost 1.3 million dollars the same day. Combined withdrawals of 96.3 million dollars were 75.03 percent below the 385.6 million dollars pulled out on November 9, an easing of selling pressure through funds rather than a return to net buying. The following day brought a heavier figure: preliminary data put November 11 outflows at about 299.8 million dollars, though trackers differed on the exact number. Over the seven completed trading sessions through November 10, United States spot bitcoin ETFs recorded around 1.58 billion dollars in net outflows, according to one estimate, while another tally put withdrawals at about 1.44 billion dollars between November 5 and November 11.
The outflows matter because these funds have been one of the main channels through which institutional money has entered bitcoin. When the flows reverse, the selling is mechanical and persistent: fund managers must sell the underlying coins to meet redemptions, and that selling lands on the market regardless of the day's headlines. Analysts say the outflows reflect the same forces weighing on the price — higher rate expectations, a stronger dollar and a tilt towards artificial intelligence investments at a time of thin liquidity. There is also a company-specific pressure: the removal of Strategy, the largest corporate holder of bitcoin, from the MSCI index has added to the selling, as index-tracking funds adjust their holdings.
Another gauge of the funding backdrop is also pointing the wrong way. The supply of dollar-pegged stablecoins, the tokens traders use as ready cash to buy crypto, fell 14.50 billion dollars, or 4.76 percent, over the 30 days from October 12 to November 11, reaching 289.90 billion dollars. A shrinking stablecoin supply means less dry powder sitting on the sidelines ready to buy the dip, and analysts describe the funding backdrop as weak. Firmer prices alongside stabilising stablecoin supply and renewed ETF inflows would strengthen the recovery case; for now, all three are missing.
Ethereum Price Today and the Wider Cryptocurrency Market
Ethereum, the second-largest cryptocurrency, is caught in the same downdraft. The ethereum price today sits near 2,049 dollars, down 0.24 percent over 24 hours, and the token has struggled to hold above 2,050 dollars as traders wait for a clearer signal on interest rates. Ether ETFs recorded only 1.3 million dollars in net outflows on November 10, a small figure next to bitcoin's, but the lack of inflows is itself telling. Institutional demand for the second-largest token has gone quiet at the same time as demand for bitcoin has turned negative.
The rest of the market is mixed rather than uniformly weak. Solana fell 0.38 percent and XRP lost 0.53 percent on the day, while smaller tokens moved in both directions without a clear pattern. The contrast with equities is striking: on Wednesday, the S&P 500 rose 1.3 percent and the Nasdaq jumped 1.6 percent as CoreWeave's results revived the artificial intelligence trade, and yet bitcoin missed the rebound entirely. Analysts say stronger United States equities and lower volatility provided some support, but selling pressure and uncertainty around interest rates kept investors cautious. The divergence is a reminder that crypto no longer moves in lockstep with stocks: when the dominant story is monetary policy rather than corporate earnings, digital assets behave more like a rate-sensitive risk asset than a technology proxy.
What Happens Next for Bitcoin Price Today
The calendar offers two near-term catalysts, and both are about inflation. The next scheduled reading is the United States producer price index, due on Friday, November 13, at 7:00 PM IST. If producer prices also come in hotter than expected, the case for a December hike hardens further and the pressure on bitcoin is likely to continue. If they surprise to the downside, the coin could find room for the relief rally that has so far failed to materialise. Beyond that, the December 9 meeting of the Federal Reserve's rate-setting committee is the event that will decide the direction of the market into year-end.
For traders, the levels are clear. A sustained move above 75,000 to 75,700 dollars, through the short-term holder cost basis of 75,600 dollars, would improve the recovery outlook. A break below support near 73,000 to 73,120 dollars would open the way to the next support zone near 72,000 dollars. Until one of those levels gives way, bitcoin is likely to keep drifting in the range that has contained it all week. The bitcoin price today tells a simple story: the coin is caught between a stock market that has found a reason to rally and a bond market pricing in higher rates, and until the Federal Reserve's path becomes clearer, crypto is likely to stay on the losing side of that split.
Source: NDTV