QCP: Rate-Hike Expectations Intensify as Bitcoin Falls Below $70,000

November 13 — QCP's latest market report notes that US October CPI rose 0.4% month-on-month and core CPI rose 0.3% month-on-month, with the market having fully priced in a Federal Reserve rate hike in December. The 10-year US Treasury yield climbed 13 basis points to 5.125%.

On the crypto market side, the report says Bitcoin fell below $70,000 for the first time since mid-August, with more than $1.3 billion in crypto futures liquidations over the past 24 hours; from November 5 to November 11, US spot Bitcoin ETFs recorded cumulative net outflows of $1.4379 billion. MSCI has announced that it will remove Strategy from the relevant indices after the close on November 30.