Why do interest rates move crypto prices? Bitcoin falls below $63,000

Bitcoin fell below $63,000 overnight on 14 to 15 November 2026, with a low near $62,100, according to CoinGecko, and was back at about $65,400 by 10:27 UTC on Sunday, 15 November. On Sunday morning it was roughly 15% lower than a week earlier, based on CoinGecko prices. Ether was under $1,800 at about 08:00 UTC, according to CoinGecko. News reports, including Cryptoticker, linked the fall to rising bets that the US central bank will raise interest rates in December, after US prices rose faster than expected in October. Higher interest rates have often put downward pressure on crypto prices, because cash and bonds start paying more, borrowing gets dearer and less money looks for risk. Here is how that works, why prices move before any decision is made, and what it means for you.

Key points: why do interest rates move crypto prices?

• Bitcoin fell below $63,000 overnight on 14 to 15 November 2026 and was back at about $65,400 by 10:27 UTC, still roughly 15% lower than a week earlier, according to CoinGecko. Ether was under $1,800.
• US consumer prices rose 0.4% in October 2026, according to the US Bureau of Labor Statistics, and in reports from 13 to 15 November 2026, CME FedWatch put the chance of a Federal Reserve rate rise at its 8–9 December meeting at close to 90%.
• Higher interest rates make cash and government bonds pay more, so assets that pay no interest, like Bitcoin, have to compete harder for money.
• Higher rates also make borrowing more expensive, including borrowing to trade, so less borrowed money flows into crypto.
• Markets react to expected rate decisions, not just actual ones, which is why prices can move on an inflation report weeks before the Fed meets.

Why did Bitcoin fall below $63,000?

Bitcoin fell below $63,000 overnight on 14 to 15 November 2026 as traders priced in a likely US rate rise, according to Cryptoticker and other outlets. The 24-hour low on CoinGecko was $62,081, and Cryptoticker, citing CoinGecko daily closing prices, called it Bitcoin's lowest level since early July. By 10:27 UTC on 15 November, Bitcoin had bounced to about $65,400.

Bitcoin price in US dollars, hourly, 1 to 15 November 2026. Dashed lines: US jobs report (6 November) and US inflation report (10 November). Source: CoinGecko, as of 15 November 2026, 10:29 UTC.

Two US reports came first. On 6 November, the Bureau of Labor Statistics said the US economy added 165,000 jobs in October. On 10 November, it said consumer prices rose 0.4% in October, more than economists had expected, according to Cryptoticker and other outlets. Strong jobs and faster price rises both make a rate rise more likely.

In reports from 13 to 15 November 2026, the chance of a December rate rise was close to 90%, according to CME FedWatch figures cited by news outlets. Money also left US-listed Bitcoin funds: about $1.07 billion from 9 to 13 November, according to Farside Investors data reported by CoinReporter. Some of the fall came from forced selling of borrowed bets, which we explain in what a crypto liquidation is.

What is the Fed's interest rate?

The Fed's interest rate is the federal funds rate, the rate US banks charge each other for overnight loans, and it sets the starting point for most other interest rates. The Federal Reserve, the US central bank, decides a target range for it at meetings of its Federal Open Market Committee, called the FOMC.

On 28 October 2026, the FOMC kept the range at 3.75% to 4.00%. Two of its twelve voting members wanted a rise of 0.25 percentage points. When this rate goes up, banks usually raise what they charge for loans and mortgages and what they pay on savings, and yields on US government bonds tend to follow.

Central banks raise rates mainly to slow down inflation, which is the rate at which prices in shops rise. That is why an inflation report can move the odds of a rate rise within minutes.

Why do higher interest rates tend to pull crypto prices down?

Higher interest rates tend to pull crypto prices down because they give money better places to sit, make borrowing more expensive and strengthen the US dollar. Three effects work together.

• Cash and bonds pay more. Bitcoin pays no interest. When a savings account or a short-term US government bond pays 4%, holding a volatile asset that pays nothing costs more in missed interest. Economists call this the opportunity cost. Some investors move money out of riskier assets as a result.
• Borrowing costs more. Higher rates raise the cost of loans for companies, households and traders. Less borrowed money comes into markets, and traders who use borrowed money to make bigger bets pay more to keep them open.
• The dollar often gets stronger. Higher US rates draw money into the dollar. Crypto is mostly priced in dollars, so a stronger dollar can mean lower prices in dollar terms.

The same logic applies to shares in fast-growing technology companies, which is one reason crypto and tech shares have often moved together. Lower rates tend to work the other way.

Why do crypto prices move before the Fed decides?

Crypto prices move before the Fed decides because markets trade on what they expect, not just on what has happened. Traders buy and sell futures contracts linked to the federal funds rate, and the prices of those contracts show what the market thinks the Fed will do.

CME FedWatch, a tool from the exchange operator CME Group, turns those futures prices into probabilities, such as "close to 90% chance of a 0.25-point rise". When an inflation or jobs report surprises, those probabilities change at once, and crypto prices often react the same day.

By the time the Fed actually announces its decision, much of it can already be in the price. That is also why prices can rise on the day of a rate rise, if the rise was smaller than feared.

Do interest rates always move crypto the same way?

No. Interest rates are one influence on crypto prices, not a rule that always holds. Crypto has risen at times when rates were going up and fallen when rates were coming down, because other things also move prices: hacks, new rules, money flowing in and out of funds, and how much borrowed money is in the market.

A probability from FedWatch is not a decision, either. The next US jobs report is due on 4 December, according to the Bureau of Labor Statistics, and the Fed meets on 8–9 December 2026, according to its published calendar. New data can change the odds in either direction, and nobody can reliably say where prices go next.

What does this mean for you?

If you hold crypto, rate news can change the value of your holdings quickly, even though nothing about the coin itself has changed. Sharp falls like this have happened before in crypto markets. For more on that, read why crypto prices move so much.

Big economic reports are one reason crypto prices can swing sharply on particular days. Understanding why helps you read the news calmly.

What to watch

• US jobs report, 4 December 2026: the Bureau of Labor Statistics publishes November job numbers at 8:30 a.m. US Eastern time.
• Fed meeting, 8–9 December 2026: the FOMC announces its rate decision, along with new projections for the economy.
• Next inflation report: the November consumer price figures from the Bureau of Labor Statistics, due in December.
• Fund flows: money moving in or out of US-listed Bitcoin and Ether funds is reported every trading day.

What you can do now

• Note the dates of the next jobs report and Fed meeting, so a sharp move on those days doesn't come as a surprise.
• Ask yourself before any news arrives: how big a fall could I live with? Crypto-assets are volatile and you can lose money.
• Learn how risk and return work in investment basics, and how markets and price charts work in the crypto market.
• Join a live session on our workshops page, or read more beginner explainers in our news section.

Questions readers ask

Why do interest rates affect crypto prices?

Interest rates affect crypto prices because higher rates make cash and government bonds pay more, make borrowing more expensive and tend to strengthen the US dollar. All three can reduce the money flowing into assets like Bitcoin, which pay no interest.

Why did Bitcoin fall below $63,000 in November 2026?

Bitcoin fell below $63,000 on 15 November 2026 as markets priced in a likely US rate rise in December, after US consumer prices rose 0.4% in October and the economy added 165,000 jobs, according to Cryptoticker and other outlets. About $1.07 billion also left US-listed Bitcoin funds from 9 to 13 November, according to Farside Investors data.

What is CME FedWatch?

CME FedWatch is a tool from CME Group that uses the prices of federal funds futures to estimate the chance of each possible US interest-rate decision at upcoming Federal Reserve meetings.

Does a Fed rate rise mean crypto will keep falling?

Not necessarily, and nobody can reliably say where prices go next. Markets often price in a rate rise before it happens, and other news can matter just as much as interest rates.

When is the next Federal Reserve decision?

The Federal Reserve's next scheduled decision is at the end of its meeting on 8–9 December 2026, according to the Fed's published calendar.

What happens to crypto when interest rates fall?

When interest rates fall, cash and bonds pay less and borrowing gets cheaper, which has often supported riskier assets like crypto. It is a tendency, not a certainty, because other factors also move prices.

Crypto prices can rise and fall sharply, and you could lose some or all of the money you put in. Crypto is not covered by deposit protection. This article is for education, not financial advice.