# Bitcoin Nears 11-Week Low as October CPI Tops Forecasts

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/54232
Published: 2026-11-11T16:51:13.000Z
Updated: 2026-11-11T16:51:13.000Z
Section: Investing

> Consumer prices rose 0.4% in October, while markets priced in an 85.3% chance of a quarter-point Fed hike in December.

Bitcoin (BTC) fell to an 11-week low near $73,500 Tuesday after October U.S. inflation topped forecasts, adding to expectations that the Federal Reserve will raise rates in December.

BTC reached $73,518, its lowest level since Aug. 21, before moving back above $74,000. The drop brought it close to a low recorded Sunday.

The Consumer Price Index rose 0.4% month over month in October, above the 0.3% forecast but below September’s 0.6% increase. The energy index rose 0.7%, easing from 5.2% in September, while shelter rose 0.3% and food increased 0.5%.

After the report, markets priced in an 85.3% chance of a 25-basis-point rate hike at the Fed’s December meeting and a 14.7% chance of a 50-basis-point increase. Fed Gov. Christopher Waller said earlier Tuesday that he favored a quarter-point hike, even if inflation cooled from September.

Economist Robin Brooks called the report’s details “discouraging,” while noting that October coincided with the peak of a second oil-price shock that could feed into core inflation.