Bitcoin hovered near $75,000 after a turbulent week, returning to levels last seen in early August. But the direction had changed: August brought a 25% monthly gain; this time, Bitcoin was retreating from a rally high near $87,350.
In Decrypt’s report, published November 10, 2026, at 03:06:03 UTC+8, Bitcoin was up 0.7% at $74,559 after touching its lowest level in more than two months. The report’s separate weekly-chart snapshot put it at $74,685 following an early dip to $73,667. Those figures represent different snapshots, not a single simultaneous quote.
Stocks recover ahead of inflation data
U.S. stocks rebounded Monday. By 11:30 a.m. Eastern, the S&P 500 had gained 1.9% and the Nasdaq Composite was up 2.2%. Brent crude fell 4.3% to about $94 a barrel, which the report described as supporting the broader market, even as Nvidia shares declined.
The next scheduled macroeconomic event was the Bureau of Labor Statistics’ October consumer price index release, due the following day. A stronger-than-expected jobs report had already pushed traders to price in roughly an 80% chance of a quarter-point Federal Reserve rate increase in December.
That left Bitcoin’s modest recovery alongside an equity rebound, with inflation data still ahead—not evidence that either market’s next direction was settled.
Forced selling was concentrated in longs
Bitcoin’s bounce followed a wave of forced selling in crypto derivatives. A CoinGlass snapshot cited by Decrypt showed $1.2 billion in liquidations over 24 hours, including about $1.04 billion in long positions, or bets on rising prices.
Bitcoin positions accounted for $324 million of the total, with nearly 87% coming from longs. Liquidations occur when traders’ posted collateral can no longer cover their losses.
The figures document substantial pressure on bullish leveraged positions. They do not, on their own, establish that the selling had ended or that a market bottom was in place.
The weekly chart’s key test: $74,400
The report traced Bitcoin’s advance from roughly $57,700 to $87,350 before its retreat toward $75,000. Its weekly candle remained open, making the eventual closing price important to the chart’s interpretation.
The 50-week exponential moving average stood near $78,250, above the 200-week EMA at about $69,790. That ordering still favored the longer-term uptrend, but Bitcoin was below the faster average. The narrowing gap also raised the possibility of a future bearish crossover, or “death cross”; it had not occurred in the reported snapshot.
Other indicators offered no strong directional verdict:
- Relative Strength Index: 47.8. Slightly below its midpoint, suggesting a modest tilt toward sellers, but still above the commonly used oversold threshold of 30.
- Average Directional Index: 21.9. Below the widely used 25 threshold for a strong trend, even though its accompanying directional indicators gave buyers a slight edge.
On the downside, Decrypt identified $74,400 as the first area where buyers might appear. Bitcoin had already traded through that level during the week. A weekly close below it would put $72,550 in focus, followed by the $69,000 area near the 200-week EMA.
On a recovery, the report identified potential resistance near $76,040, then around the 50-week EMA at $78,250. A move above that average would bring $80,360 into view, with the prior rebound high near $87,350 beyond it.
The August comparison was therefore limited: Bitcoin had returned to familiar prices, but from the opposite direction. The liquidation figures and unfinished weekly candle made the same price level a different market setup—not a basis for assuming the earlier rally would repeat.
Original source: Decrypt — Bitcoin in Limbo as Stocks Rebound Ahead of US Inflation Report. Published November 10, 2026, at 03:06:03 UTC+8. All market figures above reflect the original report’s historical snapshots.
