_Monday morning, November 9, 2026, was no ordinary morning in the crypto market. In just 15 minutes on Sunday night, Bitcoin plunged from $75,690 to $73,477, marking its lowest level since August, while liquidations across the market exceeded *one billion dollars*. The question now: Is this a temporary bottom or the start of a new downward wave toward $70,000?
*1. Where are prices today?*
- *Bitcoin (BTC):* Around *$74,400 - $74,600*, down 1.7% in 24 hours and 9.87% over the month
- *Ethereum (ETH):* Around *$2,110 - $2,130*, down *5.2%* in 24 hours, making it the hardest hit among the major coins
- *XRP:* Around *$1.09*, down *5.99%*
- *Solana (SOL):* Around *$86.48*, down *2.91%*
- *Total market capitalization:* Around *$2.47 trillion*, down 6.08% in 24 hours
- *Bitcoin dominance:* *60.2%*, meaning the entire market is following Bitcoin
- *Fear and Greed Index:* *29 - Fear*, down from 74 - Greed on October 1
Among the top 100 coins, *only 5 coins* are up more than 1% today: ARB, RNDR, PEPE, QNT, GT. Everything else is in the red.
*2. Why did the market crash so quickly? 3 factors converged on the same night*
*A) Nvidia scandal shakes stocks and crypto*
Nvidia, the world's largest company, fell more than 4% in premarket trading after CEO Jensen Huang acknowledged a relationship with a suspected Chinese spy, and the company opened an investigation into the matter. As Nvidia is leading the AI boom, any shock to the company hits all risk assets, including crypto.
*B) Iran talks fail and geopolitical tensions rise*
U.S. Secretary of State Marco Rubio described Iran's demands as "outrageous" and confirmed that the talks had failed to make progress. In a thinly traded market on Sunday night, any geopolitical news is enough to send the market reeling.
*C) ETFs sell heavily*
U.S. spot Bitcoin ETFs recorded *$412 million in net outflows* on Friday, November 6, and *$1.28 billion in outflows* for the whole week—the largest since early July. Ethereum funds recorded *$365 million in outflows*, their sixth consecutive week of outflows. When institutions sell, the market shows no mercy.
*3. Technical analysis: The levels everyone is watching*
*Bitcoin:*
The price is now below all the daily moving averages: EMA20 at $78,516, EMA50 at $79,482, and EMA200 at $76,377. This means the daily trend is still bearish.
- *First support:* *$73,500 - $74,000* - today's low
- *Second support:* *$73,150* - the 200-day moving average
- *Psychological support:* *$70,000* - prediction market Polymarket gives a *46.5%* chance of it being reached before the end of November
- *Resistance:* *$74,853* - a daily close above this level is needed to say recovery has begun, followed by *$76,000* and then *$77,430*
The daily RSI is at *35.6*, close to oversold territory, but it has not yet given a confirmed reversal signal.
*Ethereum:*
Ethereum broke below its 200-day moving average for the first time since August 18 and closed below it. The psychological support level is now *$2,000*. If it breaks below that, the decline could accelerate. The ETH/BTC ratio fell to *0.0294*, meaning Ethereum is weaker than Bitcoin even in the downturn.
*4. What should a smart trader do in a market like this?*
1. *Don't try to catch a falling knife:* The bounce from $73,500 to $74,500 is a technical rebound, not a confirmed reversal. Waiting is better than rushing into a trade.
2. *Watch Tuesday:* The U.S. CPI inflation report tomorrow is the most important event. If it comes in higher than expected, December rate-hike expectations will add to the pressure.
3. *Capital management comes first:* In a market with 43% implied volatility and a billion dollars in liquidations, high leverage is suicide. Small position sizes and clear stop-losses are your only weapons.
4. *Fear is both an opportunity and a risk:* Historically, a Fear Index reading of 29 has been a buying zone for long-term investors, but for short-term traders, it’s a liquidation zone.
*Bottom line:*
The market is currently in a phase of *repricing risk*. This is not a full-blown crash, nor is it a confirmed bottom. Bitcoin is trying to hold above $73,500, while Ethereum is fighting to stay above $2,000. Next week, November 9–15, will be decisive: CPI, the G7 meeting, and ETF flows will determine whether we see $70,000 or return to $78,000.
*What do you think? Is $73,500 the bottom, or are we heading to $70,000 before the end of November? Share your thoughts in the comments.*
_This article is for informational purposes only and is not financial advice. The prices mentioned are snapshots from November 9, 2026, and change rapidly. Always verify your sources before making any decisions._
*BTC #ETH #XRP #SOL #Crypto #BinancePick #Bitcoin*
