Bitcoin remained below $74,000 on Wednesday morning even as most major Asian equity benchmarks rallied, leaving the cryptocurrency behind a wider rebound in risk assets after Tuesday’s U.S. inflation shock.
A live LMAX Digital quote displayed by The Block shortly after 12:00 UTC on November 11 put BTC/USD at $73,622.80. That was a point-in-time venue quote, not a universal bitcoin price or a daily close, and it could move before publication. The comparison is nevertheless notable because Japan’s Nikkei 225 closed 1.3% higher, South Korea’s Kospi gained 2.4% and Taiwan’s Taiex rose 3.6% during the November 11 Asian session, according to the Associated Press. Hong Kong’s Hang Seng was the regional exception, falling 1.1%.
Inflation reset the rate backdrop
The divergence followed the U.S. Bureau of Labor Statistics’ November 10 release of October consumer-price data. The all-items index rose 0.4% from September on a seasonally adjusted basis, slowing from September’s 0.6% increase but exceeding the 0.3% consensus cited by contemporaneous market reports. The index excluding food and energy increased 0.3%, the same monthly pace recorded in August and September.
BLS could not publish most 12-month October comparisons because it did not collect October 2025 survey data during a lapse in appropriations. That gap means the release is useful for measuring the month-to-month change, but it does not provide the usual official year-over-year inflation rate.
Bitcoin fell below $74,000 after the 8:30 a.m. Eastern release. The Block recorded it at $73,363 at 2:38 p.m. Eastern on November 10, down 1.6% on the publication’s market display. By 5:29 p.m. Eastern, a Reuters report carried by Investing.com placed bitcoin at $73,649.40, down 2.2%. The differing percentages reflect different reference times and data feeds; they should not be combined into a single return series.
The same inflation report also hit U.S. assets. AP reported that the S&P 500 lost 0.4% in the November 10 cash session while the 10-year Treasury yield rose to 4.99% from 4.88% late Monday. Those observations support a broader repricing of interest-rate risk, but they do not prove inflation expectations alone caused bitcoin’s move.
Fund redemptions extended into a fourth session
A separate demand indicator remained negative. Farside Investors estimated that U.S. spot bitcoin funds recorded a $95 million net outflow during the November 10 securities session. BlackRock’s IBIT accounted for $78.2 million of withdrawals and Fidelity’s FBTC for $36.8 million, partly offset by a $20 million inflow into Grayscale’s mini trust.
That was the fourth consecutive U.S. trading session with a negative group total. Coinburn calculates a combined $1.1381 billion outflow across November 5, 6, 9 and 10 by adding Farside’s rounded daily estimates of $430.2 million, $411.9 million, $201 million and $95 million. The window excludes the weekend, when U.S. ETFs did not trade.
Fund-flow estimates measure net creations and redemptions, not exchange turnover or bitcoin sold in the open market. Farside labels its table automated and subject to error, so the latest row may be revised. The data also do not identify investors, motives, hedges or the timing of any underlying bitcoin transaction.
A divergence, not a causal verdict
Wednesday’s Asian equity rally shows that risk appetite was not uniformly weak after the U.S. session. Chip shares led several regional indexes higher, while bitcoin stayed near the previous day’s depressed range and U.S. fund redemptions supplied an additional crypto-specific headwind.
The clocks remain mismatched: Asian indexes reflect local cash-market closes, BTC/USD trades continuously, CPI describes October consumer prices and ETF flows cover the November 10 U.S. session. The verified conclusion is therefore limited. Bitcoin had not joined the Asian equity rebound by Coinburn’s morning check, but the available evidence cannot isolate whether inflation, rates, fund flows, positioning or other factors explain that gap.
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This article provides news and analysis, not investment, legal or tax advice. Digital assets are volatile and may result in total loss.