Bitcoin drops prior to US inflation data as market prices in Fed hike

Nov 10, 2026, 5:48 a.m. EST

2 min read

Summary

Bitcoin dropped ahead of Tuesday’s U.S. inflation data as market participants heightened expectations for a Federal Reserve interest rate hike.
Federal Reserve Governor Christopher Waller expressed support for increasing rates even if inflation slowed down.
Economists project that October consumer prices grew 0.3% overall and 0.2% without food and energy, while year-over-year metrics will remain absent due to a government shutdown last year that halted price gathering.

Bitcoin BTC ($74,320.67) declined on Tuesday, dropping 1.4% since midnight UTC to reach roughly $74,200, as investors increased expectations of a Federal Reserve interest-rate increase prior to Tuesday’s American inflation release. The CoinDesk 20 Index (CD20), which monitors the top digital assets, shed 1.2% since midnight and showed minimal movement over a 24-hour window.

Fed Governor Christopher Waller reinforced that monetary policy outlook, stating he favored a higher borrowing cost even if consumer price growth slowed during the previous month. He noted that an unexpectedly hot figure might justify a 50 basis point hike. According to the CME Fedwatch tool, traders are currently pricing in 25 basis points of monetary tightening for December 9, pushing the target interval to 4.00%-4.25%.

The U.S. Bureau of Labor Statistics is projected to report that headline inflation climbed 0.3% month-over-month throughout October, with core prices, excluding food and energy, advancing 0.2%. Annual comparisons will not be accessible because the government shutdown last October prevented price collection, leaving a gap with no matching data. The yearly readings for September stood at 3.7% and 2.6% correspondingly.

Petroleum provided some relief to financial markets, sliding 2% across the preceding 24 hours. WTI changed hands near $84, marking its lowest point since late August, whereas Brent crude settled close to $90 after President Donald Trump indicated a temporary halt in upcoming Iran strikes.

Gold dropped slightly past 1%, trading under $4,100 per ounce. Nasdaq 100 index futures pulled back following the previous Monday’s rally, while the Dollar Index maintained stability below 102.

Anthropic, the creator of Claude AI, pulled back valuation figures distributed to financial institutions suggesting a share offering of roughly 867 million shares valued at $70 to $80 apiece, which could have secured $69.3 billion, Reuters reported.

The business stated that the pricing figures were inaccurate and promised a revised regulatory filing, without pointing out which specific figures were incorrect.

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