Key Notes
- Bitcoin fell below $71,800 and traded near $71,400 on Coinbase and Kraken at 15:29 UTC on November 12.
- Exchange data showed rolling 24-hour lows near $71,100 as the cryptocurrency extended this week’s decline.
- The selloff coincided with weaker US stocks and higher Treasury yields after Tuesday’s inflation report.
Bitcoin fell below $71,800 on Thursday and traded near $71,400, extending this week’s decline as US equities weakened and Treasury yields rose. The latest leg lower put BTC closer to the $71,000 mark after Tuesday’s retreat through $74,000 and $73,000.
Coinbase showed Bitcoin at $71,428 at 15:29 UTC on November 12, while Kraken’s BTC-USD market was near $71,436. The readings place the cryptocurrency roughly $400 below $71,800, with prices varying slightly across trading venues.
Bitcoin Trades Near Its Recent Lows
Coinbase’s rolling 24-hour range ran from $71,151 to $74,737. At the quoted price, Bitcoin stood about 3.4% below that market’s 24-hour opening level and 4.4% below its high. Kraken recorded a comparable low near $71,133.
The decline extends the move covered in CoinScreamer’s inflation coverage. Bitcoin initially touched $73,400 in the first five minutes after Tuesday’s consumer-price release, then fell further during the afternoon. Thursday’s $71,428 quote was approximately 2.7% below that initial post-release low.
The price remained above the lowest readings in the latest exchange snapshots, showing a modest recovery from the bottom of the range. That still left most of the preceding day’s losses intact.
Stocks Weaken as Treasury Yields Rise
The pressure on Bitcoin overlapped with a softer opening hour on Wall Street. At approximately 15:29 UTC, Yahoo Finance showed the S&P 500 down about 0.3% and the Nasdaq Composite down roughly 0.5%. The benchmark 10-year Treasury yield was near 5.07%.
Technology investors were also digesting Nvidia’s leadership change. As CoinScreamer reported in its succession coverage, Jensen Huang resigned and finance chief Colette Kress became interim CEO. Nvidia shares opened around 13% lower before recovering part of that decline.
Higher yields increase the return available from interest-bearing assets and can make speculative investments less attractive. The simultaneous weakness across markets provides context for Bitcoin’s retreat, although it does not establish that any single corporate announcement caused the cryptocurrency’s decline.
Inflation Keeps Monetary Policy in Focus
The October CPI report, released November 10, showed consumer prices rising 0.4% over the month, following September’s 0.6% increase. Core prices, excluding food and energy, rose 0.3%, matching their pace in both September and August.
Annual inflation comparisons were unavailable for many CPI categories because data collection was interrupted during the October 2025 government shutdown. That leaves monthly price changes particularly important in assessing the latest release.
Before those figures were released, Federal Reserve Governor Christopher Waller said in a Tuesday speech that he would support a quarter-percentage-point rate increase in December even if inflation improved. He said a substantially stronger inflation reading could warrant more forceful action.
That remains Waller’s policy position, rather than an announced committee decision. For Bitcoin, Thursday’s trading extends the week’s losses against a backdrop of persistent inflation and higher market borrowing costs.
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