Bitcoin moved back above $75,000 after Monday’s Wall Street open, recovering from an 11-week low as technology stocks rebounded. The recovery did not eliminate downside risk: Material Indicators cofounder Keith Alan said thin order books left room for a possible test of the 200-week simple moving average near $68,000.
Historical report. Original publication: November 10, 2026, at 01:13:25 UTC+8.
Bitcoin rebounds alongside technology stocks
According to TradingView data cited by Cointelegraph, BTC/USD was up 0.8% after falling to $73,500 on Sunday—its lowest level since Aug. 21.
The weakness accompanied claims that Nvidia CEO Jensen Huang may have been targeted by a Chinese intelligence effort. Beijing subsequently denied the claim. Nvidia shares fell about 6% to $170.24 in early Monday trading, a level last seen on March 31, before recovering to a session high of $179.92.
The rebound came despite warnings about potential consequences for the company. In a Sunday note quoted by CNBC, Dan Ives, senior managing director at merchant bank Yorkville Ives & Co., described the episode as a “black eye moment” for Huang and said it could trigger congressional inquiries and create a lasting overhang on Nvidia shares. Former US Securities and Exchange Commission chair Gary Gensler said Nvidia’s board would face “tough choices” depending on the findings of its internal investigation.
Meanwhile, investors added technology-stock exposure. The Nasdaq Composite gained 2.5% in the first hour of US trading and as much as 2.6% on Monday.
Lower oil prices provided another backdrop
US WTI crude fell to $86.19 a barrel, its lowest since Sept. 1, before recovering to around $88.20. Cointelegraph reported that falling oil prices helped equities regain strength and offered Bitcoin some relief.
Economist Robin Brooks pointed to a negative correlation between oil and gold, Bitcoin and the S&P 500 following September’s attack on Saudi Arabia’s East-West Pipeline, a key oil-transit route. He argued that lower oil prices could lift those assets even if the correlations weakened.
That was Brooks’ interpretation of the relationship—not proof that oil alone drove Bitcoin’s recovery.
Why the $68,000 area remained in focus
On Monday, BTC/USD traded in a narrow range between its 21-week SMA at $73,078 and 50-week SMA at $75,492.
Alan identified the 200-week SMA at $67,755 as a possible downside test. Price had last interacted with that trend line in mid-August. He cited the broader market structure and thin order books as reasons lower prices remained possible before a breakout could be validated.
His assessment was conditional, however: a test was “possible, not inevitable,” did not have to occur that week, and came as the weekly outlook was beginning to lean bullish.
Leverage-related stress also remained visible. CoinGlass reported $1.2 billion in crypto liquidations over 24 hours as of 17:00 UTC on Monday. That figure documented substantial forced position closures, but did not by itself establish that liquidations caused the rebound or that a durable reversal had begun.
