$BTC is trading around $73K, with Deribit futures printing roughly $72.9K–$73.1K on Nov 14. A Fortune price check showed about $73.9K on Nov 11, down roughly 11% from a month earlier.
The trend: It is a steady slide. Bitcoin has posted five straight lower weekly closes, sitting about 7% below its 50-day moving average as of Nov 8.
Why it’s falling:
ETF outflows: US spot Bitcoin ETFs lost $1.28 billion in the week to Nov 7, their largest weekly exit in 19 weeks.
Macro pressure: BTC dropped again on Nov 10 after September US CPI data came in above expectations.
Weak sentiment: The Fear & Greed Index sits at 26, in “fear” territory, down from 35 a week earlier.
What to watch: The $70K round number is the next psychological support, and $76K–$81K is the zone buyers need to reclaim to change the trend. Thin trading around US Thanksgiving (Nov 26) and options expiry (Nov 27) could bring bigger swings.
Bottom line: The short-term picture is bearish and precarious, but volatility cuts both ways, so a sharp bounce is possible. This is information, not financial advice, and I’m not a financial advisor.
Vocabulary for today:
Precarious (adjective): not safe or stable; likely to change or fail suddenly.
Tenacious (adjective): holding firmly to something; persistent and determined. Example: buyers have been tenacious about defending support levels.
#WhoWillSucceedJensenHuangatNvidia? #WhatWillDriveCryptoandStocks’NextRebound? #BitcoinCoreDisclosesTorTrafficVulnerability
The trend: It is a steady slide. Bitcoin has posted five straight lower weekly closes, sitting about 7% below its 50-day moving average as of Nov 8.
Why it’s falling:
ETF outflows: US spot Bitcoin ETFs lost $1.28 billion in the week to Nov 7, their largest weekly exit in 19 weeks.
Macro pressure: BTC dropped again on Nov 10 after September US CPI data came in above expectations.
Weak sentiment: The Fear & Greed Index sits at 26, in “fear” territory, down from 35 a week earlier.
What to watch: The $70K round number is the next psychological support, and $76K–$81K is the zone buyers need to reclaim to change the trend. Thin trading around US Thanksgiving (Nov 26) and options expiry (Nov 27) could bring bigger swings.
Bottom line: The short-term picture is bearish and precarious, but volatility cuts both ways, so a sharp bounce is possible. This is information, not financial advice, and I’m not a financial advisor.
Vocabulary for today:
Precarious (adjective): not safe or stable; likely to change or fail suddenly.
Tenacious (adjective): holding firmly to something; persistent and determined. Example: buyers have been tenacious about defending support levels.
#WhoWillSucceedJensenHuangatNvidia? #WhatWillDriveCryptoandStocks’NextRebound? #BitcoinCoreDisclosesTorTrafficVulnerability
