Bitcoin extended its recent losses on Tuesday, November 10, falling below $73,000 to approximately $72,700, its lowest price since August. The world's largest cryptocurrency by market cap has struggled to recover since briefly climbing above $80,000 following the Democrats' victory in the U.S. midterm elections.
Bitcoin subsequently surrendered those gains as technology stocks sold off, falling to $74,762 by Friday and approximately $73,500 late Sunday. The decline continued Tuesday amid several bearish macroeconomic developments.
A hotter-than-expected U.S. Consumer Price Index (CPI) report added to the pressure. October inflation rose 0.4%, above the 0.3% forecast, while core CPI rose 0.3%, above expectations of 0.2%. The figures raised concerns about the Federal Reserve's interest rate outlook and reinforced expectations of tighter monetary conditions.
Ethereum and Solana both fell more than 4% to approximately $2,011 and $81.25, respectively.
Bitcoin Faces Its First Consecutive Annual Loss
Bitcoin's declining performance has raised another concern: the possibility of its first consecutive annual losses in its 18-year trading history. Bitcoin declined 6.34% in 2025 and has lost approximately 16.5% so far in 2026.
Economist and longtime Bitcoin critic Peter Schiff highlighted the unusual pattern, warning investors not to ignore the break from historical precedent.
November has historically delivered Bitcoin's strongest monthly performance, with an average return of 34.4%. However, the asset's current trajectory contrasts sharply with that historical seasonal trend.
Binance Research Sees Potential Macro Relief
Despite the bearish conditions, Binance Research believes Bitcoin could find support as global monetary tightening loses momentum. According to its Monthly Market Insights report for November 2026, 8 of the G10 central banks raised interest rates over the past 6 months, while 2 held rates and none reduced them.
Binance Research argues that the speed of monetary tightening matters more to Bitcoin than how widespread it becomes. Its analysis identifies a -0.62 correlation between 6-month changes in the tightening index and Bitcoin's 6-month returns.
Previous market cycles support this observation. Bitcoin recovered in 2022 and 2023 as tightening momentum weakened, even before central banks started cutting rates. Similarly, the cryptocurrency recorded returns exceeding 160% over 6 months in March 2024 as global monetary easing accelerated.
The research suggests that tightening momentum could decline further to approximately +0.3 by January if central banks make no additional policy changes. However, a December Federal Reserve rate hike remains a possibility, and further tightening into 2027 could reverse the trend.
Solana Falls Below $82 as ETF Outflows Continue
Solana also extended its losses, falling to $81.25 on November 10, its lowest price since August 19. The decline extended a 4-week downward trend, although $SOL has since recovered above $84. The cryptocurrency remains down more than 10% over the past week.
Institutional flows have added to the pressure. U.S. spot Solana ETFs recorded $25.07 million in net outflows on November 6, another $7.7 million on November 9, and $10.56 million on November 10. The withdrawals extend a streak of weekly net outflows dating back to early October.
U.S. spot Bitcoin ETFs have experienced even larger withdrawals, losing approximately $1.6 billion in November so far. They recorded $1.28 billion in outflows last week, followed by $201 million on Monday and another $95 million on Tuesday.
$529.8M in Liquidations Deepen Market Pressure
According to CoinGlass, 103,397 traders faced liquidations over the past 24 hours, bringing total liquidations to $529.80 million.
Long positions accounted for 70.6% of the 24-hour liquidations, approximately $373.87 million, while short positions accounted for $155.93 million. Binance recorded the largest exchange share at 38.6%.
Meanwhile, CoinMarketCap's Fear & Greed Index remained at 26, indicating fear among market participants. The reading declined from last week's neutral score of 42.
X Expands Solana Access
Despite the market downturn, Solana continues to gain access to established financial platforms. X, the melting pot of the financial market, added Fomo as a trading partner for Solana tokens. The integration allows users to tap token cashtags on X and trade the corresponding assets through Fomo.
This provides additional distribution channels for Solana assets as the broader cryptocurrency market navigates persistent macroeconomic uncertainty and declining investor appetite.
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