As of November 9, 2026, #BitcoinFiveWeeklyLosses Bitcoin is trading around $74,000–$74,800, after touching a weekend low of $73,477–$73,510, its lowest level since August. The decline marks a fifth consecutive week of losses and leaves it approximately 52% below its October 2025 all-time high.
Why is this happening?
The immediate trigger was political: the Democratic victory in the U.S. midterm elections sparked fears of stricter cryptocurrency regulation. This came on top of the impact of last week’s $6.3 billion hack of Binance, which had already left the market fragile.
As a result, spot Bitcoin ETFs recorded net outflows of $1.28 billion last week, their worst since June—a sign that institutional investors are reducing their exposure. Over the weekend, amid low liquidity, a drop in Ethereum triggered cascading liquidations totaling more than $1 billion, mostly leveraged long positions.
Key levels to watch
Immediate support is at $73,170 (the 200-day moving average); if that level is lost, the next major floor is June’s low of $59,517. To the upside, BTC needs to reclaim $76,000 to attempt a rebound toward $78,000.
In one sentence: Bitcoin is at a three-month low, pressured by fears of regulation following the Democratic victory, ETF outflows, and leveraged liquidations; the key technical support around $73,000 will determine whether this is a correction or the start of something worse.
Why is this happening?
The immediate trigger was political: the Democratic victory in the U.S. midterm elections sparked fears of stricter cryptocurrency regulation. This came on top of the impact of last week’s $6.3 billion hack of Binance, which had already left the market fragile.
As a result, spot Bitcoin ETFs recorded net outflows of $1.28 billion last week, their worst since June—a sign that institutional investors are reducing their exposure. Over the weekend, amid low liquidity, a drop in Ethereum triggered cascading liquidations totaling more than $1 billion, mostly leveraged long positions.
Key levels to watch
Immediate support is at $73,170 (the 200-day moving average); if that level is lost, the next major floor is June’s low of $59,517. To the upside, BTC needs to reclaim $76,000 to attempt a rebound toward $78,000.
In one sentence: Bitcoin is at a three-month low, pressured by fears of regulation following the Democratic victory, ETF outflows, and leveraged liquidations; the key technical support around $73,000 will determine whether this is a correction or the start of something worse.
