FORTUNE · 2026-11-13 18:37 UTC

'People are chucking stuff like gold and Bitcoin' as rising inflation leads investors to seek yield

Bitcoin fell more than 4% on Friday to $68,500, erasing gains from the past three months. CryptoQuant reported its weakest demand reading since December 2023 and Bitcoin ETFs turned net sellers again; USDT's total value shrank by $7.7 billion over two months. Rising inflation, with October CPI up 0.4%, has led traders to expect a Fed rate hike in December, pushing investors toward yield-bearing government bonds and away from non-yielding assets like gold and Bitcoin.

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