Crypto · $BTC/USD
Bitcoin Closes Below Its 50-Week Average as Crypto Long Liquidations Top $1 Billion While Stocks Rally
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Bitcoin dipped under $74,000 and ether under $2,100 over the weekend, with spot ETF outflows and stalled Iran talks adding to the pressure.
By Noris Ortiz ·
Bitcoin lagged a broad U.S. stock rebound on Monday, Nov. 9, after closing below its 50-week moving average on Sunday and triggering more than $1 billion in forced liquidations of leveraged bets, The Block and CoinDesk reported [1][2]. The split with equities is notable: Yahoo Finance's quotes showed bitcoin down about 1% near $74,800 while major U.S. indexes were up roughly 2% or more by midday [3].
According to The Block, bitcoin ended Sunday's weekly close about 0.7% below its 50-week average of $75,488, a level it had reclaimed on Sept. 20, and the close ended a seven-week stretch above it. Bitcoin briefly slipped below $74,000 on Monday morning [1]. CoinDesk said the price fell to about $73,761 late Sunday, its lowest level since August, before rebounding above $75,000, and noted that the bounce had stalled when it wrote [2]. CoinDesk put nearby technical markers at support near $73,150 (the 200-day average) and resistance near $77,430 (the 100-day average) [2].
Leverage did much of the damage. Data from CoinGlass showed total liquidations above $1.15 billion over 24 hours, with long positions accounting for $1.04 billion and shorts $117 million, The Block reported, adding that 167,764 traders were liquidated and that totals may be understated because Binance and OKX report liquidations in bursts [1]. CoinDesk, citing CoinGlass at an earlier time, counted more than $1 billion, with $913 million in longs [2]. Ether took a larger share of the losses than bitcoin: roughly $448 million of liquidations in CoinDesk's count, against $272 million for bitcoin [2]. Ether fell below $2,100 before recovering to about $2,144, CoinDesk said [2].
Fund flows have also turned. U.S. spot bitcoin exchange-traded funds recorded $1.28 billion of net outflows last week, the most since late June, and have lost money on four of five trading days, The Block reported [1]. The 12 funds are now negative for 2026, with year-to-date net outflows of $914.1 million, and BlackRock's IBIT alone lost $403 million on Friday [1].
Outside crypto, CoinDesk pointed to two pressure points. One was the Nvidia investigation, with tokenized Nvidia stock down 3.55% over 24 hours [2]. The other was the Iran conflict: Secretary of State Marco Rubio said negotiations had stalled and called Iran's demands "outrageous," CoinDesk reported, noting that bitcoin has often fallen when oil rallies since the war began in March [2]. Oil, however, was lower on Monday, with Brent trading below $94 per Yahoo Finance, so the two markets were not moving in lockstep during the session [3].
Galaxy's Alex Thorn offered historical context while cautioning about a small sample. In the 2011-2012 and 2019-2020 bear markets, bitcoin also lost its 50-week average after first reclaiming it; in the first case it stayed below for about 20 more weeks and fell as much as 35% under the line, and in both cases the prior bear-market low held on a weekly close, The Block reported [1]. He noted the data covers only five reclaims. The current cycle low is $59,517, set on June 28 [1]. Thorn said an October scenario he outlined would remain valid if bitcoin regains the average within a month [1].
What to watch next: whether bitcoin can reclaim the 50-week average near $75,500 on a weekly close, whether ETF flows stabilize, how leverage resets after the liquidations, and whether this week's U.S. inflation data shifts expectations for Federal Reserve policy. Prices in this article reflect Monday morning and midday quotes and move around the clock.
Sources:
[1] The Block, "Bitcoin loses 50-week moving average as 24-hour crypto long liquidations top $1 billion", November 9, 2026. https://www.theblock.co/news/markets/2026-11-09-bitcoin-loses-50-week-moving-average-as-24-hour-crypto-long-liquidations-top-1-billion-436102
[2] CoinDesk, "Bitcoin drops as Nvidia cheating scandal and failed Iran talks trigger volatility", November 9, 2026. https://www.coindesk.com/markets/2026/11/09/bitcoin-drops-then-pops-as-nvidia-cheating-scandal-and-failed-iran-talks-trigger-volatility
[3] Yahoo Finance, "Stock market today: Nasdaq rallies despite Nvidia stock slide, Dow and S&P 500 rise as AI stocks rebound", November 9, 2026. https://finance.yahoo.com/markets/live/stock-market-today-monday-november-9-dow-sp-500-nasdaq-nvidia-090535419.html
This article was produced with AI assistance. It is for informational purposes only and is not financial advice. StockVolt and its authors may hold positions in securities mentioned.