Cryptocurrency markets fell under renewed macro pressure after U.S. inflation data came in hotter than expected on November 10, 2026, triggering a wave of forced liquidations and hitting altcoins harder than bitcoin. The U.S. Consumer Price Index rose 0.4% month over month, above the 0.3% consensus forecast, while core inflation remained sticky. According to Bitcoin.com News, CME FedWatch odds for a December 2026 rate hike jumped to 85% from 77% before the release, reducing risk appetite across digital assets.
The selloff drove total crypto liquidations above $1.2 billion on November 10, with long positions accounting for about $1.04 billion. Bitcoin fell to an intraday low of $72,787, while Ethereum dropped roughly 2.65%, Solana 3.41% and XRP 3.57%. Crypto market sentiment fell to a Fear & Greed score of 29, in “Fear” territory.
Zcash was among the sharpest losers. ZEC plunged 10.37% to $1,042.09 and broke below its 100-day simple moving average at $1,074.60. The daily candle opened at $1,162.14, reached $1,198.71, then fell as low as $992.88 before a modest rebound kept it above the psychological $1,000 level. The 14-day RSI dropped to 37.50, below its moving average of 49.11, signaling weak momentum without yet reaching oversold conditions. Derivatives data showed $9.27 billion in 24-hour futures turnover, up 10.07%, while dollar-denominated open interest fell 11.50% to $2.27 billion. Liquidations totaled $33.05 million, roughly 90% from long positions, though perpetual funding was only slightly negative at -0.0009%, suggesting a leveraged unwind rather than an extreme short-side bias. The decline followed Zcash's NU7 network upgrade, but available evidence pointed to broader macro weakness and leveraged selling rather than a network failure.
Bitcoin Cash also traded lower, falling 3.23% to $229.96 as of 04:18 UTC on November 11, according to CoinGecko. BCH recorded a 24-hour range of $226.50 to $240.50 on Binance’s BCH/USDT pair, with about $113 million in total trading volume. The move was part of the same macro-driven selloff, with no coin-specific catalyst identified. BCH’s decline is set against a deeper underperformance: it had already fallen more than 13% in the previous week, about five times Bitcoin’s weekly decline, and was down 61.76% year-to-date. The coin has also fully reversed the roughly 30% rally from late September that followed CME Group’s announcement of BCH futures contracts.
Bitcoin Cash's positive Binance perpetual funding rate of 0.0053% indicates long positioning had not been fully washed out, and the token remains below major moving averages with a negative MACD configuration. The November 15 deadline related to the CHIP-2025-03 “Faster Blocks” upgrade debate was noted in reporting as potential background, though sources found no confirmed link to the current selloff. Until macro pressures ease, the immediate technical and derivatives picture for both ZEC and BCH remains defensive.
