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Bitcoin traded near $74,700 on the morning of Nov. 9, 2026, after dropping to $73,477 overnight, its weakest level since August, according to Bitcoin Magazine. Buyers lifted the price back above $75,000, but the recovery faded into the New York open.
Bitcoin.com News separately reported that the move happened fast: the price slid from $75,690 to $73,477 in a 15-minute spell late Sunday afternoon U.S. time, part of a 9% drop over four days. Both outlets tied the swing to the same pair of weekend headlines.
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Key facts
- Bitcoin fell more than 2% to $73,477 overnight, its lowest since August, before settling near $74,700, per Bitcoin Magazine.
- Over $1 billion of leveraged crypto positions were liquidated in 24 hours, about $913 million of them longs, Bitcoin Magazine reported.
- Bitcoin.com News, citing Coinglass, put total liquidations above $1 billion, led by $448 million in ETH versus $272 million in BTC, with the largest single order at $48 million.
- Crypto was the only major market open when the headlines landed; U.S. index futures were higher at 5:10 a.m. ET, with Dow futures up 0.73% and Nasdaq 100 futures up 0.21%.
- U.S. spot bitcoin ETFs lost $1.28 billion last week, a second straight week of outflows and the heaviest since late June.
Two headlines on a thin Sunday book
Nvidia’s board opened an independent investigation into whether CEO Jensen Huang had been the target of a foreign intelligence effort, and Bitcoin.com News reported that Huang admitted an affair in a memo to staff. Separately, Secretary of State Marco Rubio called Iranian demands outrageous as talks stalled. Nvidia is the reference point for the AI trade that has supported risk assets, so traders read the news as a threat to that whole group. Nvidia shares were down 4.5% in premarket trading, Reuters reported via Bitcoin Magazine.
The damage did not stay in bitcoin. Bitcoin.com News reported XRP below $1.10 and SOL under $90, and that ether traders were hit harder still, falling below $2,100 before recovering. One wallet borrowed $22 million in USDT from Aave and spent $21.55 million buying 10,000 ETH at $2,155, per Bitcoin.com News. On Hyperliquid, a wallet shorting Nvidia perpetuals after the scandal broke also added a short on 200 BTC, it reported.
Also readBitcoin Dips Below $81,000 as Hot Inflation Revives Fed Hike Bets
Washington and ETF redemptions behind the weakness
Reuters, as cited by Bitcoin Magazine, linked the weekend decline to concern that a Democratic-controlled Congress will tighten crypto oversight after last week’s midterms and the $6 billion Binance heist. Sen. Elizabeth Warren is tipped to lead the Senate Banking Committee, TD Cowen warned a crypto-backed CLARITY Act looks nearly impossible, and House Democrats are weighing their own market structure bill with a larger SEC role.
Institutional flows were already negative. Bitcoin.com News reported that spot bitcoin ETFs shed roughly $412 million on Friday alone and about $1.28 billion for the week, while the Nasdaq fell nearly 5% for a fourth straight weekly loss. Bitcoin.com News put the Crypto Fear and Greed Index at 29, in fear territory. The two reports agree on the weekly ETF figure and the support and resistance levels: the 200-day average near $73,150 and the 100-day average near $77,430.
Why it matters
The episode shows how sensitive crypto’s leveraged book remains to single-day headlines, and how quickly liquidity thins on a weekend while stock markets are shut. It also shows bitcoin failing to ride an equity rebound, a split that first appeared with the reaction to Friday’s jobs report. Traders holding longs, ether especially, absorbed the losses while ETF investors withdrew. Bitcoin.com News noted that Polymarket priced a 46.5% chance of bitcoin reaching $70,000 before November ends, down from the 52% chance of printing that level before 2027 that traders gave on Saturday.
What to watch
October consumer price data arrives on Tuesday, with economists expecting headline inflation up 0.3% on the month versus 0.6% in September, and futures implying roughly an 80% chance of a Fed hike at the Dec. 8-9 meeting. Earnings from AI cloud firms including Coreweave and Nebius follow this week, and one-week bitcoin implied volatility has climbed to about 43% from about 33% on Thursday, with four of the six busiest contracts being puts struck between $70,000 and $72,000.
None of this is financial advice, and crypto markets are volatile and hard to predict.
Sources: Bitcoin Magazine, Bitcoin.com News
