[Wu Blockchain News] Coinbase Institutional: Fed Rate Expectations, Not Binance Hack, Drive Bitcoin’s Recent Decline

Coinbase Institutional attributed Bitcoin’s recent slide to shifting Federal Reserve rate expectations rather than the Binance hack, citing stronger-than-expected October nonfarm payrolls and CPI data that left markets fully pricing a 25 bps December hike and 64 bps of increases over the next 12 months. U.S. spot Bitcoin ETFs posted $1.44 billion in net outflows over the five trading days through Nov. 11, with holders sitting on roughly $12.7 billion in aggregate unrealized losses. Coinbase Institutional warned that a sustained break below $73,000 would significantly raise the odds of a move toward the $66,000–$68,000 support zone. Traders will watch whether Bitcoin can reclaim $73,000 and whether ETF outflows and stablecoin supply stabilize.