Crypto is selling off again on November 12, which leads to a downturn that has kept Bitcoin, Ethereum, XRP and most major altcoins under pressure for much of the past week.
Bitcoin is trading near $73,000 after falling below $72,000 at one point today, while Ethereum has slipped below $2,000. XRP is hovering just above $1.04 and is now down roughly 13.5% over the past seven days.
There is no single catalyst behind the latest drop. Instead, several macro pressures are hitting risk assets at the same time.
What you'll learn 👉
Hot Inflation Keeps Pressure on Crypto
The biggest problem remains U.S. monetary policy.
October CPI rose 0.4% month over month on November 10, above the 0.3% forecast, and core inflation also came in hotter than expected. The report pushed traders to fully price another Federal Reserve rate increase in December and helped send the dollar to its strongest level since April 2025.
That is a difficult environment for Bitcoin and altcoins.
Higher rates raise yields on safer assets and reduce appetite for speculative investments. Bitcoin has also been trading more closely with other risk assets during the latest move, so weakness in technology stocks has added another source of pressure.
Nvidia has been particularly volatile amid renewed concerns surrounding the company, contributing to uncertainty across the technology sector.
Geopolitical risk has not disappeared either. Tensions involving Iran and the Strait of Hormuz remain elevated, with Washington and Tehran still far apart on key issues around enriched uranium.
Most people skip this chart. I think it’s one of the most important charts out there. Tether’s share of the crypto market keeps rising and just hit resistance at 7.28% to 8.57%. Rising Bitcoin dominance plus rising stablecoin share is a weak mix for altcoins. $BTC https://t.co/aL62gOXYuv
— More Crypto Online (@Morecryptoonl) November 12, 2026
These correlations do not prove that one headline caused Bitcoin to fall, but together they show that the current crypto weakness is part of a broader risk-off environment.
Bitcoin ETF Outflows Add Another Problem
Institutional demand is also failing to provide much support.
U.S. spot Bitcoin ETFs recorded approximately $299.8 million in net outflows on November 11. Bitcoin open interest has also declined, showing traders are reducing positions as price falls.
Bitcoin is now down more than 3% over the past week and almost 12% over the past 30 days.
That leaves the market dangerously close to another important technical test.
How Low Can Bitcoin Go?
The immediate battleground is approximately $71,000-$73,000.
Bitcoin has already traded near $71,500 during the latest move, so buyers need to defend this region quickly.
If it fails, $70,000 becomes the obvious next target.
A clean break below $70,000 would make approximately $67,000-$68,000 the next deeper support area. From $73,000, reaching $68,000 would mean another decline of roughly 7%.
My short-term downside map would therefore be:
$70,000 as the first major target, followed by roughly $67,000-$68,000 if selling accelerates.
For the bearish pressure to start easing, BTC needs to reclaim approximately $75,000-$76,000.
XRP Is Now Fighting to Stay Above $1
XRP has taken considerably more damage.
The token trades around $1.04 after falling more than 13% over the past seven days and nearly 24% over the past month.
Derivatives data also shows continued long unwinding. Around 72% of XRP liquidations during the latest 24-hour period came from long positions, while open interest declined.
That puts the psychological $1 level directly in focus.
If XRP loses $1 convincingly, the next realistic area is around $0.90-$0.95.
Below that, the $0.85-$0.87 region becomes the more aggressive bearish scenario. From $1.04, a decline to $0.90 would represent another 13.5%.
On the other hand, XRP reclaiming $1.10-$1.15 would be the first evidence that buyers are regaining control.
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