Bitcoin fell toward an 11-week low near $73,500 at the Tuesday Wall Street open described in a Cointelegraph report, after October US inflation came in above expectations. TradingView data cited in that report showed BTC/USD reaching $73,518—nearly matching the low set the prior Sunday and the lowest level since Aug. 21—before the price returned above $74,000.
October CPI and its components
The October Consumer Price Index rose 0.4% month-on-month, above the anticipated 0.3%. The print had no year-on-year component because data were not collected during the 2025 US government shutdown. Monthly growth still cooled from September’s 0.6% increase.
The Bureau of Labor Statistics said the shelter index rose 0.3% in October and accounted for over thirty percent of the monthly all-items increase. The food index increased 0.5%, with food at home up 0.4% and food away from home up 0.5%. The energy index advanced 0.7%, a sharp slowdown from 5.2% in September.
Economist Robin Brooks described the CPI result as “discouraging.” He wrote: “All the details of this CPI report are discouraging, but October was also the peak of the second big oil price shock this year and that’s obviously going to bleed into core CPI inflation.”
December rate odds and the equity session
In a speech earlier that Tuesday, Federal Reserve governor Christopher Waller said he favored hiking interest rates by 25 basis points in December even if inflation cooled from September. CME Group’s FedWatch Tool showed markets pricing a 96.3% chance of that outcome for the December meeting. After the CPI report, the odds turned more hawkish: a 25-basis-point hike drew 85.3% and a 50-basis-point hike drew 14.7%.
US stocks came under pressure at the open. Headwinds named in the report included strong labor-market data and the prospect of tighter AI-sector regulation under a Democratic-controlled House and Senate. The Nasdaq Composite opened down 0.6% before recouping the losses. Nvidia stock fell nearly 4% amid a board investigation into whether CEO Jensen Huang was targeted by a foreign intelligence effort.
Mosaic Asset Company wrote that consumer inflation had continued running above target while the October jobs report removed concerns about a slowdown in the labor market. Mosaic also pointed to “extreme” sell-side pressure on the Nasdaq, including an equity put/call ratio that jumped over 1.0 and was higher than during the April 2025 trade-war selloff, and treated that pressure as a possible sign the index had formed a long-term bottom. That bottom reading is Mosaic’s analysis, not a confirmed result.
Conditional reading and its limits
The report ties the same-session Bitcoin dip to the inflation surprise and to pressure on US risk assets. A conditional interpretation—that a hotter CPI print and a more hawkish December distribution can weigh on Bitcoin while it trades with equities—depends on those links holding over the horizon of the December meeting. A later cooling in inflation, a reversal in the FedWatch split, or a break between Bitcoin and Nasdaq sentiment would weaken it. The source states no Bitcoin price target and does not treat the Nasdaq bottom call as settled.
The developments above are those of the Tuesday session in the original report, not a new announcement.
Bitcoin nears 11-week low after ‘discouraging’ US CPI inflation beat, published 2026-11-11T00:25:03+08:00.
