Business · Markets · 1 hr ago
Bitcoin falls to its lowest level since August as US rate hike bets rise
Bitcoin fell to its lowest level since August on Tuesday as investors reacted to stronger US inflation data.
The move involved the US market and cryptocurrencies, with Bitcoin down 2.2% to about $73,304 and Ethereum down 4.44% to about $2,039 at 4:45 p.m.
Brasília time.
Stronger October inflation raised expectations of a US rate hike in December, making investors reconsider how much borrowing costs could rise.
Higher interest rates can weigh on cryptocurrencies because they do not pay interest, and the move came alongside a wider retreat from risk in US markets.
Investors are now debating how large the rate increase could be, after Federal Reserve director Christopher Waller said a 0.5-point increase should be considered.
A further increase in January was previously seen as unlikely, but the inflation data has brought consecutive increases into focus.
The broader crypto market also lost value, though Binance Research attributed October's decline mainly to changing economic expectations rather than a structural problem in crypto.
Bitcoin fell to its lowest level since August as stronger US inflation data increased expectations of interest-rate hikes.
At about 4:45 p.m. Brasília time on Tuesday, Bitcoin was down 2.2% at $73,304.46, according to Coinbase.
Ethereum fell 4.44% to $2,039.04.
The decline came amid a broader flight from risk, also seen on Wall Street.
Binance Research said the crypto market move reflected macroeconomic repricing rather than structural deterioration.
- Who
- Bitcoin and other cryptocurrencies.
- What
- Bitcoin fell to its lowest level since August. Ethereum also declined.
- When
- Tuesday, November 10, 2026; Bitcoin was down at about 4:45 p.m. Brasília time.
- Where
- In cryptocurrency markets; the article also reported a flight from risk on Wall Street.
- Why
- Stronger-than-expected US inflation data reinforced expectations of interest-rate hikes, pressuring assets that do not generate yield.
This story does not have two clearly opposing sides.
Federal Reserve director Christopher Waller said a 50-basis-point rate increase should be considered.
Stronger US October consumer price index data reinforced expectations of an interest-rate increase, with markets discussing the size of the tightening.
Bitcoin was down 2.2% at $73,304.46, and Coinbase’s chart showed it had reached its lowest level since August.
- Bitcoin price
- $73,304.46, down 2.2% at about 4:45 p.m. Brasília time
- Bitcoin low
- Lowest level since August, according to Coinbase’s chart
- Ethereum price
- $2,039.04, down 4.44%
- Crypto market capitalization
- Fell 9.1% to $2.70 trillion in October, according to Binance Research
- Rate-hike discussion
- A 50-basis-point increase was proposed for consideration by Fed director Christopher Waller
What people are saying
macroeconomic repricing