Bitcoin, the world's largest cryptocurrency, slipped below the $74,000 mark on Thursday, November 12, 2026, trading at $73,344.71, down 0.4% over the past 24 hours. Its market capitalization stood at $1.47 trillion, a 0.35% decline. This slight improvement follows a three-month low of $72,695 on November 10. Experts attribute the downturn to rising US inflation and potential interest rate hikes by the Federal Reserve, which have dampened risk appetite for cryptocurrencies.
Ethereum, the second-largest crypto, also saw a decline, trading at $2,044.40, down 0.49% from the previous day, with a market cap of $249.85 billion. Bitcoin maintained dominance with 60.5% of the market, while Ethereum held 10.2%. The overall crypto market cap dropped to $2.43 trillion, a 0.78% decrease over 24 hours.
Analysts highlighted several factors influencing the crypto markets. Nischal Shetty, Founder of WazirX, noted that while stronger US equities and lower volatility provided some support, persistent inflation, a stronger dollar, and continued ETF withdrawals kept participation measured. Alex Kuptsikevich, Chief Market Analyst at FxPro, pointed to accelerating inflation, strong US jobs figures, and the possibility of a 50-bps interest rate hike in December as key factors hurting cryptocurrencies.
Looking ahead, Riya Sehgal, Research Analyst at Delta Exchange, emphasized the importance of the upcoming US PPI release for further inflation signals. Shetty added that while the macro picture remained mixed, recovering equities and continued investment in AI-related companies supported interest in technology and blockchain-linked assets. However, Bitcoin needs to reclaim $75,000 to signal a recovery, with $72,000 remaining a key support level.