TLDR
- Bitcoin traded near $73,660 on Thursday after bouncing from a low of $72,787 following hot CPI data.
- MSCI confirmed it will remove Strategy (MSTR) from its indexes, and Strategy shares fell 4% after hours.
- U.S. spot Bitcoin ETFs saw $95 million in net outflows on Nov. 10, their fourth straight day of losses.
- Ted Pillows says BTC is heading for a sixth red weekly candle and needs to reclaim the 50-week moving average.
- DWF Labs’ Martin Lee says ETF flows follow price and do not predict it.
Bitcoin started Thursday near $73,660, still below the $74,000 level it has failed to hold this week. The price has moved in a tight range since a sharp drop on Tuesday afternoon. Traders are now watching rate expectations, ETF flows and a new index decision.
Hotter-than-expected U.S. consumer price index data pushed Bitcoin down to $72,787 on Tuesday. The coin then recovered and traded between $73,000 and $74,000 on Wednesday. At 12:25 p.m. EST, it reached about $74,600, up roughly 2% on the day.
Bitcoin tested the $74,000 mark four times after the sell-off and lost momentum each time. Its market value sat just under $1.5 trillion at the peak of Wednesday’s bounce. The coin remains below its opening price for the year, which was nearly $87,600.
The inflation report has changed what traders expect from the Federal Reserve. Markets now price in more interest rate hikes, and one could come as soon as December. Higher rates tend to reduce demand for assets that pay no yield, such as crypto.
Strategy Faces MSCI Index Removal
Index operator MSCI confirmed that Strategy Inc (NASDAQ:MSTR) will be removed from its global indexes. MSCI said companies like Strategy operate more like investment funds. Strategy shares fell 4% in after-hours trading on Wednesday, to $116.69.
MSCI to Remove Strategy and Metaplanet From Indexes, Potential MSTR Outflows Could Reach $8.8B
According to Reuters, MSCI will remove Strategy (MSTR), Japan's Bitcoin treasury firm Metaplanet, and UK-based uranium investment company Yellow Cake from its global indexes, effective… pic.twitter.com/QwBEot3XUt
— Wu Blockchain (@WuBlockchain) November 11, 2026
MSCI had proposed last year to remove digital asset treasury firms whose crypto holdings make up more than 50% of total assets. The move is part of a wider review of what it calls non-operating companies. Japan’s Metaplanet (TYO:3350), the second-largest corporate Bitcoin holder, is also set to be removed.
Strategy had warned earlier that an MSCI exclusion could force the sale of $2.8 billion of its stock. The company has funded most of its Bitcoin purchases with debt and new share issuance. It sold some of its Bitcoin earlier this year to meet debt payments.
Analyst Ted Pillows said on X that Bitcoin is heading toward its sixth straight red weekly candle. He noted that stocks have shown some momentum after last week’s crash, but crypto has not followed. In his view, weakness will continue in Bitcoin and altcoins until BTC reclaims its 50-week moving average.
$BTC is now heading towards its 6th consecutive weekly red candle.
Stocks are showing some momentum after last week's crash, but it's not impacting the crypto market.
Until Bitcoin reclaims the 50W MA, the weakness will continue in BTC and alts. pic.twitter.com/IaG72bQyrL
— Ted (@TedPillows) November 11, 2026
On-chain analyst Willy Woo took a different view in a short post on X. He wrote that fear during an early bull market is a gift. He did not give a price target or time frame.
Fear during an early bull market is a gift, just saying. pic.twitter.com/LJbjfYpbYK
— Willy Woo (@willywoo) November 12, 2026
Derivatives data showed a calmer market. Coinglass reported $51 million in Bitcoin liquidations, with about $8 million in longs and $43 million in shorts. Across all crypto, liquidations came to $199 million, and shorts made up more than $131 million of that.
ETF Outflows Pass $1 Billion for the Year
U.S. spot Bitcoin ETFs recorded $95 million in net outflows on Nov. 10. That was the fourth losing day in a row. Year-to-date redemptions have now passed $1 billion, based on data tracked by Bitcoin.com News.
Martin Lee, market insights lead at DWF Labs, questions how useful those flows are as a signal. He said withdrawals have often sped up near market bottoms, while inflows have grown near peaks. By his internal analysis, ETF flows follow Bitcoin’s price instead of leading it.
Lee also described two sources of liquidity for Bitcoin. One is the dollar debasement trade, and the other is broader risk-on buying. He said Bitcoin held up in August on the debasement story while risk-on AI stocks fell sharply.
He added that debasement alone rarely sustains a rally when the wider market is risk-off. Bitcoin has beaten gold over the past six months, he noted. His full comment was that flows “haven’t been good indicators of what we can expect price to do next.”
Other cryptocurrencies moved in a flat range on Thursday. Ether fell 0.3% to $2,048.96, and XRP dropped 1.4%. Solana rose 0.3%, while Cardano and BNB each lost 0.5%.
Among memecoins, Dogecoin slipped 1% and $TRUMP fell 0.7%. Crypto markets have struggled to rebound after falling sharply through October and early November. Concerns also remain after Democrats won the U.S. midterm elections, which some traders link to more Congressional attention on crypto.
