Bitcoin struggled to recover on Thursday, November 12, 2026, trading between $73,600 and $73,800. Concerns over US inflation, potential Federal Reserve rate hikes, and continued withdrawals from Bitcoin exchange-traded funds (ETFs) weighed on investor sentiment. The cryptocurrency briefly surpassed $74,500 but failed to maintain those gains. Ethereum also traded cautiously around $2,050, while other cryptocurrencies showed mixed movements.
Nischal Shetty, Founder of WazirX, noted that 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. Vikram Subburaj, CEO of Giottus, described Bitcoin's recovery as fragile, with the cryptocurrency trading below its short-term holder cost basis of around $75,600.
Institutional flows remained weak, with US spot Bitcoin ETFs recording around $1.58 billion in net outflows across the seven completed trading sessions through November 10. Shetty mentioned that Bitcoin ETFs saw $95 million in outflows in the latest fully reported session, while Ethereum ETFs recorded smaller withdrawals. Despite this, Riya Sehgal, Research Analyst at Delta Exchange, pointed to on-chain data showing accumulation by large Bitcoin holders during the recent correction.
Market experts identified Bitcoin's immediate support at $73,000-$73,300, with another support zone near $72,000. A sustained move above $75,000-$75,700 could improve the recovery outlook. For Ethereum, the immediate support zone was around $2,030, followed by the psychological $2,000 mark, with resistance seen around $2,100-$2,150. Sehgal emphasized the importance of Ethereum holding above the $2,000-$2,015 range to avoid further weakness.