- Bitcoin took the inflation hit and stayed down. Bitcoin dipped about another 1% to $73,600 after October CPI rose 0.4% versus a 0.3% forecast, and was trading at $74,200 by 10:18 a.m. ET, off its worst levels but lagging risk markets, CoinDesk reported.
- Stocks recovered faster. Nasdaq futures fell about 1.5% after the report, but the index was roughly flat about 45 minutes into trading and would have been green if not for Nvidia, while the 10-year Treasury yield jumped 13 basis points to 4.99%.
- Corporate treasuries are net sellers. Fourteen public companies have sold a combined 108,247 BTC in 2026, worth about $8.08 billion, according to Lookonchain data cited by CoinDesk, an implied average of roughly $74,600 per coin by our calculation.
- Miners dominate the selling. MARA led with 40,581 BTC sold at an average price of $74,446, followed by Riot Platforms with 20,264 BTC at $73,231, together about 56% of the total, with Bitdeer and Cango among other major sellers.
What Happened?
The hotter-than-expected CPI print drove rate traders to price a December Fed hike as assured, with the remaining question being 25 or 50 basis points; CME FedWatch showed 85% odds of a quarter-point move and 15% of a half point. CoinDesk noted that amid last week’s stock selloff, odds of the Fed holding had risen above 30%, but Monday’s rebound, Fed Governor Christopher Waller’s hawkish comments and the CPI data drove those odds to zero. The 2-year Treasury yield rose 19 basis points to 4.736%. Before the data, bitcoin and gold had both fallen just over 1%, with bitcoin near $74,000 and gold below $4,100 an ounce.
Why It Matters?
Bitcoin’s failure to bounce alongside equities shows how sensitive crypto remains to rising rates, which raise the opportunity cost of holding non-yielding assets. The corporate-selling tally adds a supply overhang: public companies, led by miners, have been selling coins this year, with MARA and Riot alone accounting for 60,845 BTC by our calculation. That shifts attention from corporate accumulation to corporate supply hitting the market just as rate hikes become more likely. Falling oil, down about 15% from where it spent most of October, has not been enough to offset the inflation worries.
What’s Next?
Traders will watch Friday’s wholesale inflation data and Fed commentary ahead of the Dec. 8-9 meeting for clues on whether a half-point hike gains traction. Further disclosures of corporate bitcoin sales, particularly from miners, are a key risk for prices. Bitcoin’s ability to hold near $74,000 while yields climb will test sentiment.
Affected Tickers and Coins: BTC, MARA, RIOT
Source: CoinDesk
