Bitcoin below $75,000: Key factors driving the crypto market

Published OnNov 12, 2026 | 12:33 IST
Last Updated OnNov 12, 2026 | 12:33 IST

Bitcoin traded near $73,600 to $73,800, struggling to sustain recovery due to US inflation concerns, Federal Reserve rate hike expectations, and ongoing ETF outflows.

Bitcoin was trading around $73,600-$73,800 on Thursday, November 12, struggling to sustain a recovery as concerns over US inflation, expectations of further Federal Reserve rate hikes and continued withdrawals from Bitcoin exchange-traded funds (ETFs) weighed on investor sentiment.

The cryptocurrency briefly moved above $74,500 but failed to hold those gains.

Ethereum was also trading cautiously around $2,050, while other cryptocurrencies saw mixed movements.

Nischal Shetty, Founder of WazirX, said stronger US equity markets and lower volatility had provided some support to cryptocurrencies. However, persistent inflation, a stronger dollar and ETF outflows continued to limit buying interest.

Why is Bitcoin under pressure?

Stronger-than-expected US inflation data has strengthened expectations of another Federal Reserve rate hike in December. Higher interest rates and a stronger dollar can weigh on cryptocurrencies by reducing investor appetite for riskier assets.

Vikram Subburaj, CEO of Giottus, said Bitcoin's recovery remained fragile, with the cryptocurrency trading below its short-term holder cost basis of around $75,600.

Institutional flows have also remained weak. US spot Bitcoin ETFs recorded around $1.58 billion in net outflows across the seven completed trading sessions through November 10, Subburaj said.

Shetty noted that Bitcoin ETFs saw $95 million in outflows in the latest fully reported session, while Ethereum ETFs recorded smaller withdrawals.

However, there are some signs of buying interest.

Riya Sehgal, Research Analyst at Delta Exchange, said on-chain data from Glassnode showed accumulation by wallets holding large amounts of Bitcoin during the recent correction. At the same time, deposits by large holders into exchanges suggest that selling pressure has not disappeared.

What are the key Bitcoin and Ethereum levels?

Bitcoin's immediate support is around $73,000-$73,300, with another support zone near $72,000, according to market experts.

A sustained move above $75,000-$75,700 could improve the recovery outlook. Subburaj said reclaiming the $75,600 short-term holder cost basis would be particularly important.

For Ethereum, the immediate support zone is around $2,030, followed by the psychological $2,000 mark. Resistance is seen around $2,100-$2,150, Shetty said.

Sehgal said Ethereum needs to hold above the $2,000-$2,015 range to avoid further weakness.

What should investors watch?

Investors will need to track US inflation data, Federal Reserve commentary and institutional fund flows for clues about the next direction of the crypto market.

Prateek Gupta, Head of Business at Mudrex, also highlighted the upcoming Bitcoin options expiry as a factor that could influence near-term trading sentiment.

Subburaj advised investors against chasing the recent rebound and suggested staggered purchases rather than investing the entire amount at once. He also recommended keeping leverage low amid uncertainty over interest rates and ETF flows.

Avinash Shekhar, Co-founder and CEO of Pi42, said Bitcoin's dominance of more than 58% indicated that market activity remained concentrated in established cryptocurrencies, while buying momentum across the broader market was still limited.

For now, Bitcoin's ability to hold above $73,000 and move back towards $75,000-$76,000 will be important in determining whether the current recovery can gain strength.