$200M of Crypto Longs Just Got Steamed by Hot CPI

About $200 million in leveraged crypto bets were liquidated within five minutes of a hotter-than-expected US Consumer Price Index release on November 10, 2026, according to data cited by BeInCrypto. Consumer prices rose 0.4% in October, above the 0.23% Wall Street expected, the Bureau of Labor Statistics (BLS) said, as traders reassessed the Federal Reserve’s (Fed) December rate outlook.

Bitcoin ($BTC) swung between $74,770 and $73,525 on Binance during the five minutes following the 8:30 a.m. ET release. It closed the window near $73,709, down 0.9%, and traded around $73,918 by 8:36 a.m. ET. Bull Theory reported: “Over $170,000,000 in longs liquidated from the crypto market in the past 5 minutes. Bitcoin falls below $74,000. Ethereum falls below $2,050. Both hit their lowest levels in 11 weeks.” $ETH fell below $2,050.

Spot gold dropped 0.6% to about $4,048 an ounce over the same period after touching $4,040, per OANDA data, while Bitcoin and gold five-minute price charts were compiled by TradingView. Traders had already priced in 84% odds of a December Fed rate hike before the CPI release, BeInCrypto reported. Zerohedge summarized the figures as: “CPI 0.4% MoM, Exp. 0.3% CPI Core 0.3% MoM, Exp. 0.2%.”

Core inflation, which excludes food and energy, held at 0.3% for a third straight month. Bitcoin exchange-traded funds (ETFs) shed $1.28 billion as December hike odds climbed, and the Fed held its benchmark rate at 3.75% to 4% in October, when Fed Chair Kevin Warsh linked tighter financial conditions to AI-driven demand.

Food prices rose 0.5% after holding flat in September, with groceries up 0.4% and restaurant meals up 0.5%. Energy costs climbed 0.7%, and gasoline rose 1.0% after seasonal adjustment, leaving it 37.4% above a year earlier. Housing costs, the index’s biggest component, rose 0.3% after 0.4% in September; core prices had risen 0.2% in July and were flat in June. Every bank in the pre-release survey called the forecast too low, while headline estimates ranged from Morgan Stanley’s 0.19% to Wells Fargo’s 0.28%.