Bitcoin traded near $73,912 on November 10, according to CoinGecko, after slipping toward $73,000 during a session that saw a 24-hour low of about $73,587. The move came as a hotter-than-forecast U.S. inflation report weighed on risk assets and U.S. spot Bitcoin ETFs continued to record withdrawals.
Inflation Surprise Raises Rate Concerns
The Bureau of Labor Statistics reported a 0.4% increase in October’s Consumer Price Index, exceeding the 0.3% expected by economists surveyed by Reuters. September’s monthly increase was 0.6%. Core consumer prices rose 0.3%, above the 0.2% consensus estimate. Both readings strengthened market expectations of another Federal Reserve interest-rate increase in December.
Reuters reported falling U.S. equities and rising Treasury yields following the inflation release. Bitcoin declined alongside other risk-sensitive assets, although the data cannot prove a single cause. The agency published no annual inflation rate for October. A federal funding lapse prevented comparable price data collection during October 2025.
Bitcoin ETF Withdrawals Continue
Data from Farside Investors show U.S. spot Bitcoin ETFs recorded $201 million in net outflows on November 9. Combined withdrawals reached approximately $1.48 billion across six trading sessions beginning November 2.
BlackRock’s iShares Bitcoin Trust accounted for roughly $1.42 billion of those net outflows. However, November 4 brought $74.6 million in net inflows across the broader ETF group. The divergence matters because one fund’s redemptions do not represent the entire market. Fund flows also measure investment-product activity, rather than every underlying Bitcoin purchase or sale.
Short-Term Holder Cost Basis and Exchange Inflows
CryptoQuant estimated short-term holders’ average Bitcoin cost basis near $75,700 on November 10. Trading below that figure places the group at an unrealized loss on average.
Another CryptoQuant analysis tracked exchange deposits from loss-making short-term holders. Those holders transferred about 32,695 BTC on November 6, representing roughly 89% of short-term holder exchange inflows, according to CryptoQuant. Their deposits fell to about 9,900 BTC on November 9, despite continued price weakness.
The decline represents approximately 70% fewer loss-making exchange inflows from that specific holder cohort. It does not measure all exchange deposits or guarantee reduced selling.
Separately, Blockonomi reported roughly 108,700 fewer nonempty Bitcoin wallets since October 16, citing Santiment. Wallet totals cannot reliably count distinct investors. ETF withdrawals, holder losses, and exchange deposits measure different activities.
