Bitcoin Stays in $74,000 Range Despite US Stock Rebound; Spot ETFs See $201 Million Outflow Ahead of CPI

US stocks rebounded, but Bitcoin remained weak in the $74,000 range. More than $200 million also flowed out of spot Bitcoin exchange-traded funds ahead of the release of the U.S. October consumer price index.

CoinDesk reported that Bitcoin fell as low as $74,100 on Nov. 10 before trading around $74,200.

U.S. stocks, by contrast, rebounded sharply a day earlier. The S&P 500 posted its biggest gain since April 8, while the Nasdaq Composite rose 2.7%, recouping part of last week's losses caused by selling in artificial intelligence-related shares.

Markets are focused on the U.S. October CPI report due later on Nov. 10. The Dow Jones consensus forecast calls for headline CPI to rise 0.3% from the previous month and core CPI to increase 0.2%. That would mark a slowdown from September, when headline CPI rose 0.6% and core CPI climbed 0.3%.

Spot Bitcoin ETFs recorded net outflows of $201 million a day earlier. BlackRock's IBIT alone saw $213.2 million leave the fund, marking a seventh straight trading session of net outflows.

Liquidations in the derivatives market fell sharply. Crypto futures liquidations totaled about $184 million over the past 24 hours, down about 84% from more than $1 billion the previous day. Futures open interest rose 0.59% to $128.4 billion.

Avalanche rose about 5% over the past 24 hours after news that the New York Stock Exchange will use the Avalanche blockchain for clearing and settlement on a 24-hour tokenized securities trading platform. Open interest in AVAX futures also rose 13% over the same period, pointing to notable capital inflows.

XRP, by contrast, saw open interest fall 3.83%, while market sell orders were relatively stronger. In the Bitcoin options market, demand for put options outpaced calls, showing that traders were still hedging against near-term downside risk.