Tag Archives: bitcoin

Bitcoin Is Bruised, Not Broken: Why the Crypto Sector Is Holding Its Ground

Bitcoin Is Bruised, Not Broken: Why the Crypto Sector Is Holding Its Ground

The cryptocurrency sector has taken a beating that would have shattered lesser assets, and the largest digital currency is still standing. As of November 10, 2026, Bitcoin trades at approximately $74,980.25, clinging to the $75,000 threshold after a sharp slide that pushed it to its lowest levels since August.

On the surface, the headlines scream capitulation. Institutional money is fleeing. $1 billion in leveraged bets has vanished in a single day. A corporate scandal at the world’s most important artificial intelligence chipmaker has poisoned risk appetite across every asset class. Washington is tilting toward a regulatory crackdown. The Federal Reserve looms with the threat of another rate hike. Any single force here would normally send Bitcoin into a freefall. The fact that it has not done so is the story that matters.

Start with the most visible wound: institutional exit. United States spot Bitcoin exchange-traded funds recorded a staggering $1.28 billion in weekly net outflows, the largest weekly withdrawal since late June. Public companies simultaneously offloaded roughly $869 million worth of BTC, flooding the trading environment with supply at precisely the moment demand was retreating. It was a coordinated retreat by the very participants who had spent the past 2 years building positions. When the largest, most sophisticated players head for the exits, prices usually collapse without finding a floor. Bitcoin found one anyway.

The derivatives sector then delivered a second blow. The drop below major support levels triggered a cascade of forced selling, with forced liquidation wiping out over $1 billion in leveraged crypto positions within a single 24-hour window. These were predominantly long bets, meaning traders who had wagered on higher prices lost their positions as the asset moved against them. Liquidation cascades resemble a bank run. They feed on themselves, forcing prices lower, triggering more margin calls, and repeating the cycle until only the most overleveraged and undercapitalized participants remain. That Bitcoin stabilized near $75,000 after absorbing that much forced selling suggests sellers ran out of force, not that the asset broke.

Then came the exogenous shock that no crypto analyst could have modeled. Nvidia chief executive Jensen Huang admitted to a personal relationship with an executive suspected by United States intelligence of spying for China, and the company’s board initiated an investigation. Nvidia shares dropped 4.3% to $178.67 and erased over $220 billion in market value in a single session. The Nasdaq suffered a 5% weekly rout in technology and artificial intelligence stocks, and Bitcoin, which has traded in increasingly tight correlation with risk assets over the past several years, fell with them. Bitcoin has no operational exposure to Nvidia, no supply chain link, no revenue dependence on data center chips. In a trading environment where algorithms and risk parity funds treat Bitcoin as a high-beta technology proxy, correlation becomes contagion. Bitcoin fell because everything fell, not because anything specific to Bitcoin had deteriorated.

The political backdrop added another layer of anxiety. Last week’s midterm elections leaned toward a Democratic sweep, and critics like Elizabeth Warren are poised to influence the Senate Banking Committee. Investors are bracing for harsher regulatory scrutiny and potential delays on crypto-favorable legislation like the CLARITY Act. Macro conditions compounded the discomfort. Traders moved into a risk-off posture ahead of Tuesday’s inflation data and growing anticipation of a Federal Reserve interest rate hike in December. Higher rates raise the opportunity cost of holding non-yielding assets, and Bitcoin, for all its digital scarcity, produces no cash flow. Each of these forces pushed in the same direction: sell risk, raise cash, wait for clarity.

And still Bitcoin did not break. Market analysts point to a crucial technical fact that deserves more attention than it has received. Bitcoin managed to cling to its critical 200-day moving average, a long-term trend line that has historically separated bull markets from bear markets. The 200-day moving average sits near $73,200, and Bitcoin bounced off that level even as leveraged positions faced forced liquidation around it.

The comparison with altcoins makes Bitcoin’s relative resilience even clearer. Ethereum and XRP dropped over 5% to 6% during the same period, and broader altcoin losses were substantially deeper. Bitcoin dominance held near 60%, a level that signals capital is not abandoning the asset class entirely but concentrating in its largest and most liquid member. 

The broader equity rally on November 9 provides the final piece of context. The S&P 500 rose 2.35% to 7,549.94, the Nasdaq surged 2.74% to 25,253.14, and the Dow exploded upward by 1,104.02 points to 52,389.75. More than 430 individual stocks in the S&P 500 closed higher. Energy prices plummeted, with Brent crude diving 5.8% to $92.57 per barrel, easing inflation fears. Advanced Micro Devices skyrocketed 13.3%, Broadcom gained 8.8%, and Lam Research jumped 10.4%. The risk-on appetite that returned to equities in that session will eventually find its way back into crypto, because the same investors who buy technology stocks and small-cap equities are the ones who allocate to digital assets. Bitcoin’s correlation with risk assets cut against it during the Nvidia scare. That same correlation will work in its favor when the next risk-on wave arrives.

My view is straightforward. Bitcoin has absorbed a $1.28 billion institutional exit, a $1 billion liquidation cascade, a corporate espionage scandal at the world’s most important technology company, a political shift toward tighter regulation, and macro anxiety ahead of inflation data and a rate decision. It has done so while holding its 200-day moving average and maintaining dominance over altcoins that fell harder. An asset that survives that combination of shocks without breaking is not an asset in crisis. It is an asset that has found a floor. The crypto sector is not looking too bad after all. It is looking like a sector that passed a stress test.

https://e27.co/bitcoin-is-bruised-not-broken-why-the-crypto-sector-is-holding-its-ground-20261110/

 

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author. The latest book is Web4: The Age of Autonomous Intelligence.

www.anndy.com
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Reclaim $77,159 or Break $73,188: Which Comes First for Bitcoin?

Reclaim $77,159 or Break $73,188: Which Comes First for Bitcoin?

The 2 reports describe a risk-off episode from different angles. Bitcoin fell 1.5% to $74,577.82 in 24 hours while the broader crypto market dropped 1.52% to $2.5 trillion. That move underperformed a wider market that fell 1.98% and was 91% correlated with the S&P 500 over the past week. This decline reflects a technical deleveraging shock layered on top of a macro risk-off move. Liquidation data explains the speed, and macro data explains the direction.

The primary cause was a cascade of leveraged long liquidations. More than $1 billion in crypto leveraged positions closed in the 24 hours leading up to November 6, and Bitcoin accounted for $224.65 million of that total. Long positions made up the vast majority, with a report putting longs above 88% and another at 96%. Bitcoin long liquidations spiked over 3339% in 24 hours to $224.65 million. That spike matters because forced selling creates a feedback loop. Traders who expected higher prices had to exit, and their exits pushed prices lower, which triggered more exits. The market had grown over-leveraged on the long side. This is why the move looked violent rather than orderly. The rapid unwind suggests a flush of speculative excess, and such a flush can sometimes clear the way for a more stable base. The immediate signal to watch is stabilization in Bitcoin’s 24-hour liquidation totals, which spiked by over 3300%. A return to normal levels would point to reduced selling pressure. The average funding rate also plunged 75%, which can help signal when leveraged selling pressure may subside.

Secondary causes split into 2 connected channels. The first came from traditional risk assets. The Nasdaq fell 5.5% on November 5 amid concerns about AI-sector growth, and Bitcoin’s high correlation with tech stocks dragged crypto lower. The other came from institutional flows. Spot Bitcoin ETFs, including BlackRock’s, saw multi-day net outflows, with a reported $104.97 million sale adding direct sell-side pressure.

A separate report also pointed to regulatory uncertainty after U.S. authorities moved to block transactions involving MEXC Global and alleged $16 billion in illicit activity. That headline added to the risk-off tone. My view is that the regulatory item matters less for its direct size than for its timing. It arrived while the market was already fragile, and it likely reduced liquidity and confidence. The move did not come from blockchain-specific news. It came from sensitivity to traditional risk assets, institutional flow trends, and a sudden regulatory headline. The 2 reports differ in emphasis, but they agree on the transmission path. A macro shock hit risk assets, ETF outflows added supply, and the liquidation engine amplified the result.

Near-term outlook hinges on a price floor and macro data. Bitcoin traded below its key 7-day and 30-day Simple Moving Averages. Its 200-day Simple Moving Average stood at $73,187.78, serving as a major floor. The immediate catalyst is the US October Consumer Price Index report on November 10. A hotter-than-expected print could renew rate fears and pressure risk assets. A cooler reading might offer relief. On the market-cap side, the crypto sector tested a critical floor between $2.49 trillion and $2.5 trillion, which aligned with the 78.6% Fibonacci retracement level. A hold above that floor and a reduction in liquidation volume could pave the way for a short-term rebound. Failure to hold could lead to a test of the 200-day moving average near $2.48 trillion. Bitcoin’s ability to reclaim $2.56 trillion, the 78.6% Fibonacci level, and subsequent ETF flow data would help gauge institutional conviction. The asset needs to reclaim the 7-day Simple Moving Average near $77,159 to signal a potential recovery. The key zone is $73,188 to $74,795. A decisive break below could trigger another leg down. This zone matters because it sits close to both the Bitcoin 200-day level and the market-cap floor. That overlap gives traders a clean line to watch.

My point of view is that bearish pressure is real but narrower than the headline suggests. The sell-off looks primarily like a technical deleveraging event, magnified by thin weekend liquidity and regulatory headlines. The long liquidation flush may be nearing exhaustion, but the overall trend remains weak until key resistance levels return. I would not treat a brief bounce as a trend change. I would want to see liquidation totals normalize, funding rates stabilize, and Bitcoin defend the 200-day Simple Moving Average near $73,188. I would also want ETF flows to stop subtracting from demand. The macro side is equally important. The 91% correlation with the S&P 500 over the past week tells me Bitcoin is trading as a risk asset right now. That means the CPI release on November 10 can matter more than any crypto-specific headline. If inflation data comes in hot, rate fears could renew pressure on risk assets and make the $73,188 floor test more likely. If inflation data comes in cool, relief could help Bitcoin stabilize and attempt a reclaim of the 7-day Simple Moving Average near $77,159. I see the regulatory headline as a timing issue rather than the root cause. It made an already crowded trade more vulnerable. A relief bounce can happen without a full trend reversal, and I would treat it as a chance to see whether leverage has truly reset.

Bitcoin’s decline combines a macro risk-off event and an internal deleveraging shock. The liquidation flush may be nearing exhaustion, but the trend remains weak until key resistance levels return. The central question is whether Bitcoin can defend its 200-day Simple Moving Average following the US CPI release, or whether breaking it opens the door to deeper losses. The market needs time and calmer leverage conditions more than it needs a dramatic catalyst. A quiet stabilization in liquidation totals and funding rates would do more for the outlook than a sharp relief rally that rests on thin liquidity. The next few sessions should reveal whether this was a flush or the start of a deeper repricing.

https://e27.co/bitcoin-tests-us73188-can-the-200-day-line-stop-the-slide-20261109/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author. The latest book is Web4: The Age of Autonomous Intelligence.

www.anndy.com
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Bitcoin Pump and Dump? The $75,000 Support Zone Will Decide.

Bitcoin Pump and Dump? The $75,000 Support Zone Will Decide.

Yesterday did not look like a market finding its footing. It looked like a sequence of moves designed to catch as many people offside as possible, and the evidence lies in the timing and the numbers.

South Korea’s KOSPI crashed 9% to 4,923.48, and a circuit breaker halted trading. That came 1 day after the same index fell 5.28% to close at 5,383.80 on Nov. 5, when sell-side sidecars froze program trading for 5 minutes, and foreign investors dumped Samsung Electronics and SK Hynix by 7% to 9% each. By the time the Asian session opened on Nov. 6, the damage had spread beyond Seoul. Bitcoin was down 5.78% to $76,011.79 and underperformed a broader selloff that had begun on Wall Street the previous day. The 98% correlation with the S&P 500 suggests this wasn’t a crypto story. It was a macro risk-off move, and digital assets offered the highest-beta expression of that fear.

The narrative most desks offer is straightforward enough. On Nov. 5 the Nasdaq fell over 5.5% as investors reacted to Democratic control of Congress and the fear that a Blue Wave would bring restrictions on AI data-center spending. Nvidia dropped 9.3%, and AMD plunged 17.3%, and the rout spilled directly into digital assets. The crypto complex fell 5.29% to $2.55 trillion. Derivatives data showed total open interest rose 9.79% to $382.82 billion, and volume surged 12.72%, suggesting speculative activity had built up ahead of the move. That leverage became fuel. Over $1.08 billion in crypto positions liquidated in 24 hours, with long positions accounting for $954 million. Bitcoin alone saw $281.62 million go into liquidation, with longs making up 90% of that total. The forced closure of those positions added selling pressure and accelerated the drop.

The sequence does not look accidental. The initial move did not simply reward shorts. It also invited late longs into a position that became crowded and fragile. Once the macro trigger arrived, the tape reversed with unusual violence. Big players do not need a conspiracy to achieve this. They need a crowded book, a visible catalyst, and the willingness to press the advantage when the other side is trapped. The KOSPI sidecar on Nov. 5 and the circuit breaker on Nov. 6 provided exactly that visible catalyst. Once Seoul halted trading, the risk-off signal became impossible to ignore, and selling pressure fed on itself across Asia and into digital assets.

The mechanics explain why the drop felt sharper than the equity move. Crypto open interest sat at elevated levels heading into the election, and the post-election bounce encouraged more leverage on the long side. When the Nasdaq rout hit, forced selling in derivatives did not merely reflect the equity decline. It amplified it. Each liquidation pushed the price lower, which triggered more liquidations, which pushed the price lower again. The $1.08 billion figure is the scoreboard for that feedback loop. The 98% correlation with the S&P 500 is the broader context, but the liquidation cascade is the mechanism that turned a macro headwind into a violent repricing. Bitcoin’s 7-day RSI fell to 36.43, which is oversold territory. Oversold conditions in a leveraged book can persist longer than anyone expects when the marginal seller is a forced seller rather than a discretionary one. Funding rates at +0.0065% also show that positioning had not yet reset cleanly.

The near-term picture now hinges on a narrow set of levels and 1 external variable. Bitcoin is testing the $75,000 to $75,600 support zone, and that zone matters because buyers previously stepped in there. If support holds, consolidation is the most likely outcome, and the oversold RSI could support a minor relief rally toward the $77,000 pivot. A decisive daily close below $75,000 would open the door toward $73,000 and would confirm that the deleveraging event has not fully run its course. The total crypto market cap sits at $2.55 trillion, and the next major support below the current swing low is the Fibonacci 78.6% retracement at $2.61 trillion, followed by the 200-day simple moving average at $2.48 trillion. That last level separates a painful correction from a structural breakdown.

The pump and dump framing is not the only way to read yesterday, but it is a defensible one. The tape did not simply react to the Nasdaq. It first offered a false sense of direction, then punished the side that believed it. The KOSPI circuit breaker gave the move its alibi, and the liquidation engine gave it its speed. What matters now is whether the $75,000 floor holds over the next 24 hours while the equity market decides whether the AI trade is merely correcting or genuinely unwinding. If the tech rout stabilizes, digital assets can consolidate and rebuild. If the KOSPI panic spreads further into U.S. futures, forced selling will find another leg lower. The big players who wanted quick wins have already booked them. The question is whether the tape can find a bid without them.

 

https://e27.co/bitcoin-pump-and-dump-the-us75000-support-zone-will-decide-20261106/

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author. The latest book is Web4: The Age of Autonomous Intelligence.

www.anndy.com
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