Cryptocurrency markets took another hit on Tuesday, November 10, as hotter-than-expected inflation data weighed on investor sentiment and fueled concerns about higher interest rates. As of early evening, Bitcoin (BTC -1.45%) fell 1.83% to $73,874.38, while Ethereum (ETH -3.14%) declined 3.43% to $2,059.16 and Solana (SOL -3.51%) dropped 3.69% to $83.37. The broad-based sell-off reflected weakening risk appetite as investors reassessed the outlook for Federal Reserve monetary policy.

What’s driving crypto markets

Tuesday’s inflation surprise triggered a sharp sell-off in U.S. government bonds, pushing Treasury yields higher as investors priced in more aggressive monetary tightening. The benchmark 10-year Treasury yield briefly surpassed…