Bitcoin slides toward $74K as Fed's Waller backs a December rate hike

Bitcoin fell toward $74,000 on Tuesday after Federal Reserve Governor Christopher Waller said he supports raising interest rates at the central bank's December meeting.

US stock futures slipped alongside it.

Waller delivered the remarks in London on November 10, 2026. He backed a 25 basis point increase at the Federal Open Market Committee meeting scheduled for December 8-9.

He also left the door open to something larger. If core CPI rises 0.3% or more month over month, Waller said, a 50 basis point hike should be considered.

Waller's case rests on inflation that he described as elevated and spreading across the economy.

The timing made his comments especially pointed. Tuesday was also the day of the October Consumer Price Index release.

Waller indicated he would favor the December hike regardless of what that CPI print showed. Even an improvement from the prior month would not change his view on a 25 basis point move.

He framed the stakes in terms of the Fed's reputation. According to Waller, failing to act could undermine the central bank's credibility on inflation.

Bitcoin spent the day boxed into a range from the mid-$74,000s to the low-$75,000s. The slide toward $74,000 tracked the broader risk-off move in equity futures.