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Hot US Inflation Data Sends Crypto Markets Lower; Bitcoin Breaks Below $74,000

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Hot US Inflation Data Sends Crypto Markets Lower; Bitcoin Breaks Below $74,000

Cryptocurrency markets extended losses on November 10 as hotter-than-expected U.S. inflation data reinforced expectations of tighter Federal Reserve policy. The October CPI rose 0.4% month-on-month, stronger than forecasts, pushing Treasury yields higher (10-year briefly above 5%) and strengthening the dollar.

Bitcoin fell roughly 1.8–2% to trade near $73,720–$73,870, dipping below the psychologically important $74,000 level. Ethereum declined about 3.4–3.8% to around $2,050–$2,059, while Solana dropped near 3.7% to approximately $83. The broad risk-off move liquidated more than $1 billion in leveraged positions over recent sessions, with longs heavily hit.

Spot Bitcoin ETFs continued to see outflows (roughly $1.5 billion cumulative since early November in some reports), removing a key source of demand. Analysts noted rising odds of a December Fed hike, possibly 25 or even 50 basis points, as higher yields make fixed-income assets more attractive relative to speculative crypto. Bitcoin’s struggle to hold recent support levels raised questions about near-term demand, though longer-term holders and institutional infrastructure developments remained a counterweight.

Bitcoin

MARA Holdings Sells 13,597 Bitcoin for $1.1 Billion to Repay Loans and Fund AI Pivot

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MARA Holdings Sells 13,597 Bitcoin for $1.1 Billion to Repay Loans and Fund AI Pivot

Public Bitcoin miner MARA Holdings disclosed in its Q3 shareholder letter that it sold 13,597 BTC after September 30 at an average price of roughly $81,039, generating about $1.1 billion. The company used $750 million to fully repay all Bitcoin-backed term loans, releasing 17,477 BTC previously pledged as collateral. This left less than 5% of its remaining holdings encumbered (down from 57% at quarter-end).

MARA held 34,012 BTC on September 30; the post-quarter sale represented about 40% of that stack. Year-to-date sales now exceed 40,000 BTC. The company stated it intends to continue monetizing Bitcoin to fund AI infrastructure opportunities, satisfy convertible note puts, and potentially support share repurchases. It has secured development rights for significant AI-related power capacity. While the sale provided liquidity and reduced leverage, it added visible supply pressure at a time when the broader market was already soft. MARA reported a large Q3 net income boosted by fair-value gains on digital assets despite lower mining revenue.

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