Bitcoin remains below $70,000 as investors exercise caution ahead of U.S. inflation data release.

Your day-ahead look for March 11, 2026

Investors are displaying signs of caution ahead of the U.S. inflation figures set to be released later on Wednesday. (Gaertringen/Pixabay modified by CoinDesk)

What to know:

If you are not yet subscribed to the newsletter email, click here.

By Omkar Godbole (All times ET unless indicated otherwise)

Bitcoin BTC$69,474.46 has fallen back below $70,000 as the ongoing conflict in the Middle East and the U.S. inflation data anticipated later today keep traders on edge.

The recent inability to gain traction above $70,000 was influenced by reports that Iran has been laying mines in the already disturbed Strait of Hormuz, a critical global oil passage. Positive momentum diminished late Tuesday after U.S. Energy Secretary Chris Wright stated in a now-deleted post on social media that the U.S. had escorted an oil tanker through the strait.

As is typical, disappointment quickly spread from bitcoin to the wider cryptocurrency market. Notable cryptocurrencies like ether (ETH), solana (SOL), XRP (XRP), DOGE$0.09209 and BNB BNB$637.39 have each declined by 1% or more since midnight UTC, reflecting losses seen in bitcoin. The CoinDesk 20 Index has also dropped 1% to 1,980 points.

Alex Kuptsikevich, chief market analyst at FXPro, indicated that traders should monitor the 50-day simple moving average of bitcoin’s price closely.

"In the short term, the 50-day moving average has demonstrated significant resistance, hindering bulls from reversing the trend in their favor. This indicator frequently denotes the medium-term trend, and a decisive break above it could serve as a pivotal moment in the upcoming days," he stated in an email.

In the meantime, analysts at Bitfinex noted that forthcoming movements are largely contingent on oil prices, U.S. government bond yields, and Federal Reserve policy.

Regarding the Fed, its officials will be closely observing the February U.S. consumer price index report set for release later Wednesday. It is anticipated to indicate an increase in the inflation rate to 2.5% year-on-year from January’s 2.4%, according to FactSet. Core inflation, excluding food and energy, is also expected to rise to 2.5%.

A figure that exceeds expectations, alongside concerns over inflation driven by war, could reinforce hawkish sentiment at the Fed and support the outlook for no rate cuts this year. This could, in turn, lead to increased market volatility. Remain vigilant!

Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today

What to Watch

For a more detailed list of events this week, see CoinDesk’s "Crypto Week Ahead".

• Crypto
  • Nothing scheduled.
• Macro
  • March 11, 7:30 a.m.: U.S. consumer price inflation for February YoY Est. 2.5%; core rate YoY Est. 2.5%
  • March 11: OPEC monthly report
• Earnings (Estimates based on FactSet data)
  • March 11: Exodus Movement (EXOD), pre-market, $0.14

Token Events

For a more detailed list of events this week, see CoinDesk’s "Crypto Week Ahead".

• Governance votes & calls
  • Unlock DAO is voting to authorize the Unlock Protocol DAO budget for the first and second quarters, amounting to $30,768. Voting concludes on March 11.
• Unlocks
  • No significant unlocks.
• Token Launches
  • Nothing scheduled.

Conferences

For a more detailed list of events this week, see CoinDesk’s "Crypto Week Ahead".

• Day 3 of 5: Policy Week 2026 (Sydney, Australia)

Market Movements

• BTC is down 0.78% from 4 p.m. ET Tuesday at $69,794.05 (24hrs: -1.92%)
• ETH is down 0.83% at $2,022.17 (24hrs: -1.99%)
• CoinDesk 20 is down 0.98% at 1,979.50 (24hrs: -1.79%)
• Ether CESR Composite Staking Rate is down 3 bps at 2.78%
• BTC funding rate is at -0.0027% (-2.9456% annualized) on Binance

• DXY is up 0.24% at 99.04
• Gold futures are down 0.57% at $5,200.00
• Silver futures have decreased by 2.05% to $87.26
• Nikkei 225 closed up 1.43% at 55,025.37
• Hang Seng closed down 0.24% at 25,898.76
• FTSE 100 is down 0.96% at 10,312.17
• Euro Stoxx 50 is down 1.35% at 5,758.30
• DJIA closed on Tuesday unchanged at 47,706.51
• S&P 500 closed down 0.21% at 6,781.48
• Nasdaq Composite closed unchanged at 22,697.10
• S&P/TSX Composite closed up 0.25% at 33,270.70
• S&P 40 Latin America closed down 0.32% at 3,607.58
• U.S. 10-Year Treasury rate remained stable at 4.14%
• E-mini S&P 500 futures are down