Crypto Market Today (Nov 11, 2026): Hot CPI Sinks BTC to $73K, $723M Liquidated, ZEC −14% as XMR Rises — Plus a Chinese Guide to No-KYC USDT→XMR

Market data only — not financial advice. Prices are CoinGecko snapshots taken around 09:45 UTC on November 11, 2026. SecureShift operates the DEX, perps and loan products mentioned below.

Key takeaways (60-second read)

• CPI came in hot. October headline CPI rose 0.4% month-over-month (0.3% expected) and core rose 0.3% (0.2% expected). Markets now price a December Fed hike, and Governor Waller floated 50 bps.
• Bitcoin slipped to $73,605 (−1.1%) after wicking to roughly $72,700 overnight. About $723M in leveraged positions were liquidated, mostly longs.
• Privacy coins split:XMR rose 3.8% to $572 while ZEC fell 14.2% to $978, the day's worst large-cap move.
• Sentiment is in Fear: the Crypto Fear & Greed Index sits at 29 (from 32). Spot BTC and ETH ETFs logged a third straight day of outflows.
• Asia watch: Beijing's new Party decision targets corruption carried out through "virtual currency" and "blockchain," while Hong Kong keeps building a licensed stablecoin market. Below we add a Chinese-language quick guide (中文速览) for Chinese-speaking readers outside mainland China.

Yesterday we called CPI the event that would decide whether Bitcoin's $75K pin breaks up or down. It broke down. A hotter-than-expected inflation print pushed two-year Treasury yields toward 4.73%, strengthened the case for a December rate hike, and knocked leveraged longs out of the crypto market overnight. Here is what moved, why it matters, and how to position with coins you actually control.

Crypto Market Snapshot: Wednesday, November 11, 2026

Total crypto market cap: about $2.45T (−1.4%). Bitcoin dominance: 60.8%. Top gainers include MultiversX (EGLD, +12.9%) and Internet Computer (ICP, +7.9%). See live moves on our top gainers and top losers pages.

Why the Hot CPI Hit Crypto So Hard

1. Hikes, not cuts. With the fed funds range at 3.75%–4.00%, markets now price roughly 89% odds of a 25 bp December hike. Governor Christopher Waller said he could back 50 bps if monthly core inflation runs at 0.3% or more, and it just did.
2. Leverage was crowded. Open interest stayed high through the pre-CPI chop. When BTC lost $74K, roughly $723M in positions liquidated, which accelerated the drop to ~$72.7K.
3. ETF demand keeps leaking. Spot Bitcoin ETFs lost $201M on Nov 9 after $1.28B of outflows in November's first trading week. Spot ETH ETFs lost $185M the same day.

Note: the BLS did not publish year-over-year October figures because October 2025 price data was never collected during last year's federal shutdown. That leaves traders reading the month-over-month numbers alone, which makes each print feel larger.

Bitcoin Price Analysis: After CPI

• Support: $72,700–$73,000 (overnight low). A daily close below it opens the $70K psychological level.
• Resistance: $74,500–$75,000 must be reclaimed to neutralize the CPI break. Above that, Strategy's ~$79,012 cost basis is the big magnet.
• Corporate bid: Strategy still bought 1,036 BTC in the week to Nov 8, but that is not offsetting ETF outflows.

Ethereum: ETH is clinging to $2,050. Losing $2,000 would put it at fresh multi-month lows; reclaiming $2,150 would signal the CPI selling is done.

Privacy Coins: XMR Up, ZEC Down Hard

The two privacy majors moved in opposite directions. Monero gained 3.8% to $572.50, recovering part of Tuesday's −4.9% slide, while Zcash fell 14.2% to $978, extending a sharp cooldown from its 2026 highs. XMR has also had a quietly positive few weeks on the access front: Kraken's co-CEO publicly withdrew the exchange's XMR "source of funds" questionnaire emails in late October, calling them "wrong," and Kraken says XMR deposits and withdrawals continue.

For traders rotating between the two, the move is simple on a non-custodial swap:

• ZEC to XMR — rotate out of ZEC into Monero
• BTC to XMR and ETH to XMR
• USDT to XMR — the most used route for Asia-based traders (TRC20 supported)
• BTC to ZEC — if you are buying the dip instead

New to privacy coins? Start with Is Monero Traceable? and our atomic swap vs instant swap explainer.

Asia Focus: China's Crypto Stance and Hong Kong's Stablecoin Build-Out

Mainland China: crypto named in the anti-corruption push

The Communist Party's Central Committee adopted a decision at its Fifth Plenary Session on October 29 (full text published by Xinhua on November 1). One line in its anti-corruption section calls for cracking down on corruption carried out through "virtual currency" and "blockchain," alongside the internet and cross-border funds. It does not name Bitcoin or address trading, mining or stablecoins directly.

The wider backdrop is unchanged: mainland regulators declared all crypto transactions illegal in September 2021, and a central-bank-led notice this year restated that virtual-currency business is illegal financial activity and barred offshore yuan-pegged stablecoins. The new decision signals tougher enforcement, not a policy thaw.

Hong Kong: the regulated alternative

Hong Kong is moving the other way. Its Stablecoins Ordinance took effect in August 2025, and the HKMA granted its first two stablecoin issuer licences on April 10, 2026, to HSBC and Anchorpoint Financial, a joint venture of Standard Chartered (Hong Kong), HKT and Animoca Brands. For Chinese-speaking traders, the region now has two very different models side by side: a mainland ban and a licensed, compliance-heavy Hong Kong market.

Where non-custodial swaps fit

For Chinese-speaking users in places where crypto is legal, such as Hong Kong, Taiwan, Singapore, Malaysia and the global diaspora, the practical questions are the same as everywhere: keep custody of your keys, use the right USDT network, and avoid leaving balances on exchanges. SecureShift's terms prohibit use where crypto or the service is forbidden by local law, so check your own jurisdiction's rules before you swap.

中文速览：11月11日加密市场（Chinese Quick Read）

以下内容面向香港、台湾、新加坡、马来西亚及海外华人用户。仅供参考，不构成投资建议。请遵守您所在地区的法律法规。

• 美国10月CPI高于预期：整体CPI环比上涨0.4%（预期0.3%），核心CPI上涨0.3%（预期0.2%）。市场目前预计美联储12月加息。
• 比特币（BTC）约 $73,605，24小时下跌1.1%，盘中一度跌至约 $72,700，全网约7.23亿美元杠杆仓位被清算。
• 门罗币（XMR）逆势上涨3.8%至 $572.50；Zcash（ZEC）下跌14.2%至 $978。
• 恐惧与贪婪指数：29（恐惧）。
• 中国内地：中共中央十月全会决定提出，严厉打击借助"虚拟货币"和"区块链"实施的腐败行为。内地自2021年起将加密货币交易视为非法金融活动。
• 香港：《稳定币条例》已于2025年8月生效，金管局已于2026年4月10日向汇丰银行（HSBC）及渣打银行、香港电讯与Animoca Brands合资的Anchorpoint Financial发出首批稳定币发行人牌照。

如何免KYC将USDT兑换为XMR？

1. 打开 SecureShift USDT→XMR 兑换页面，无需注册账户。
2. 选择正确的USDT网络（TRC20、ERC20 或 BEP20）。网络选错可能导致资产丢失，详见我们的 TRC20/ERC20/BEP20 指南。
3. 填写您自己的门罗币钱包地址（建议使用 Cake Wallet、Feather 或官方 GUI 钱包）。
4. 发送USDT，兑换完成后XMR将直接到达您的钱包。SecureShift 为非托管服务，不保管您的资金。

也可以用 BTC 兑换 XMR 或 ETH 兑换 XMR。

Other Crypto Stories Today

• Initia hit by an attack: the network's Layer 1 was halted after an exploit, yet INIT still traded higher on the day.
• Telegram wallet surge: more than 700,000 new self-custodial wallets were reported within 48 hours.
• Miami-Dade County began accepting Bitcoin for property taxes, and a Texas bill (HB 815) would let cities and counties invest up to $10M of public funds in crypto.
• Prediction markets: the CFTC is investigating whether Kalshi failed to file required notices on certain contracts, while Polymarket reports annualized revenue above $1.8B.

How SecureShift Fits Into This Market

Swap without an account. The SecureShift DEX lets you swap across major coins and networks non-custodially and without KYC — useful when volatility spikes and you want to rotate into XMR, BTC or stablecoins fast. Open the DEX.

Hedge the Fed. If you expect more rate-driven downside, trade perps to hedge spot holdings. Size carefully: today's $723M liquidation wave is a reminder of what high leverage does around macro data.

Don't sell at the lows. A crypto loan lets you unlock liquidity against BTC instead of selling below cost. See how it works.

Before any swap, run through our no-KYC swap checklist.

What to Watch This Week

Bottom Line

Hot inflation turned a quiet $75K range into a leverage flush. BTC needs to hold $72.7K, ETH needs $2,000, and the market needs ETF outflows to stop. Monero's green day stands out against the sell-off. Whatever your view, the lesson from today's liquidations is the same: keep size modest and keep your coins in a wallet you control.

FAQ

Why is crypto down today, November 11, 2026?

October CPI came in hotter than expected (headline +0.4% MoM, core +0.3% MoM), raising the odds of a December Fed rate hike. That triggered roughly $723M in liquidations and pushed BTC toward $72,700.

What is the Bitcoin price today?

About $73,605 as of 09:45 UTC on November 11, 2026, down 1.1% in 24 hours. Key support is $72,700–$73,000; resistance is $74,500–$75,000.

Why did Zcash fall while Monero rose?

ZEC dropped 14.2% to $978 as traders took profits after its large 2026 run, while XMR gained 3.8% to $572.50. You can rotate between them on SecureShift's ZEC to XMR page.

Is crypto legal in China?

No, not on the mainland. Chinese regulators declared all crypto transactions illegal in 2021, and the Party's October 2026 decision calls for cracking down on corruption carried out through virtual currency. Hong Kong is different: it runs a licensed regime, including the first stablecoin issuer licences granted to HSBC and Anchorpoint Financial in April 2026 under its Stablecoins Ordinance.

How can Chinese-speaking users swap USDT to XMR without KYC?

Where crypto is legal (for example Hong Kong, Taiwan, Singapore or Malaysia), use a non-custodial swap such as SecureShift's USDT to XMR page: choose the correct USDT network (TRC20, ERC20 or BEP20), enter your own Monero address, and send. No account is required.

Keep Reading

• Nov 10 report: CPI Day — BTC Pinned at $75K
• Nov 9 report: BTC Tests the 200-Day
• Weekly recap (Nov 7)
• 4 ways to buy XMR without KYC
• Buy XMR with a card
• Crypto news · Crypto glossary

Sources:CoinGecko (prices), The Coin Republic (CPI, Fed odds, ETF flows), KuCoin daily report (Fear & Greed, headlines), CoinCodex (market cap, gainers), CoinDesk (China), The Defiant (Hong Kong licences), CoinEdition (Kraken XMR).