October consumer prices rose 0.4% month over month, above the 0.3% economists expected. That hotter print pushed traders to reprice the chance of another Federal Reserve rate increase, and Bitcoin fell below $74,000, reaching the low $73,000s. The move came as U.S. equities had shown more resilience, while Friday’s reported spot Bitcoin ETF outflows reached $696 million.
Funding reads 6.95% annualized. Open interest is $41,412.1 million, down 1.56% over 24 hours.
That mix points to pressure from both macro and crypto-specific demand. The inflation surprise hit rates-sensitive assets, but Bitcoin had already been trading weakly, and reported spot ETF outflows raised fresh questions about institutional demand. The next signal is whether those outflows ease. If they do, this may look more like a temporary reset. If they continue, the selloff may point to weaker demand alongside the macro pressure.