Bitcoin steadied near $75,000 on Tuesday after a turbulent weekend that took the world's largest cryptocurrency to its lowest level since August, as traders weighed persistent outflows from US spot exchange-traded funds against the prospect of today's US inflation data. Bitcoin was trading at about $74,765 as of 06:00 UTC, up roughly 0.5% over 24 hours, after recovering from a low near $73,700.
The recovery follows a sharp decline that began late on Sunday, when Bitcoin fell to about $73,761, its lowest since August, before buyers stepped in. The move erased post-election gains and left the cryptocurrency trading well below its key moving averages, with the daily relative strength index sitting around 36.5, below the neutral level of 50, and the MACD indicator in negative territory.
US spot Bitcoin ETFs recorded $201 million in net outflows on Monday, according to Farside Investors' daily flow data, pushing cumulative November withdrawals to $1.48 billion. The funds had already seen about $1.28 billion in net outflows in the first week of November, with withdrawals on four of five trading days, and Ethereum ETFs lost a further $93.19 million. The persistent selling by institutional investors has been one of the main forces holding Bitcoin back.
Liquidations across the crypto market totalled roughly $269 million over the prior 24 hours, affecting about 80,801 traders, according to CoinGlass data, with most of the positions closed being bets on higher prices. Over the weekend the scale of the washout was larger still: more than $1 billion in crypto positions were liquidated, including $913 million of bets on higher prices, as leveraged longs were flushed out of the market.
Several factors have combined to pressure the market. Reports that Nvidia chief executive Jensen Huang had acknowledged an affair with a woman US officials believe was spying for China rattled technology stocks, and crypto, which has traded closely with tech shares in recent weeks, followed them lower. At the same time, US Secretary of State Marco Rubio said negotiations with Iran had stalled, adding to the risk-off mood, while the post-midterm sell-off in US equities spilled into digital assets.
Technically, Bitcoin now sits between its 200-day and 100-day levels, with analysts watching $75,562 — around the 50-week moving average — as a critical resistance level, and $71,900 as vital support. Hilbert Group's chief investment officer Russell Thompson has warned that a break below $71,900 could open the way towards $65,000, while a reclaim of $76,000 to $76,500 would be needed before a sustained rebound becomes likely. Immediate support sits at $74,300 to $74,800, followed by $73,100 to $73,300.
Investor attention is now fixed on the US October consumer price index, due for release at 8:30am Eastern Time on Tuesday. Economists surveyed by FactSet anticipate a 0.2% increase in monthly consumer prices, compared with a 0.6% rise in September, and the reading is expected to shape expectations for the Federal Reserve's next interest rate decision. Stronger-than-expected employment figures have already heightened expectations that rates will stay higher for longer, which has weighed on risk assets including crypto.
There was one bright spot for the industry on Monday. The Office of the Comptroller of the Currency approved Coinbase National Trust Company's charter on November 6, converting the conditional approval granted in April, and Coinbase announced the decision on November 9. The charter brings the exchange's custody business under a federal bank supervisor, a milestone that the industry has welcomed even as prices have fallen.
Bitcoin's market capitalisation stood at approximately $1.50 trillion, with a circulating supply of around 20.11 million coins against a maximum of 21 million, and daily trading volume of about $27.8 billion. The cryptocurrency is down about 2.8% over the past week and nearly 10% over the past month, and sits roughly 41% below its all-time high of $126,156. The Crypto Fear and Greed Index stood at 31, indicating fear among market participants.
Whether the recovery holds will depend heavily on the inflation data and on whether the ETF outflows finally slow. If the CPI reading comes in softer than expected, it could ease rate fears and give buyers the confidence to push Bitcoin back above $75,000. If it surprises on the upside, the pressure on the $74,000 support level is likely to intensify, and the market's recent lows may come under threat again.
Figures checked at 14:00 PKT on 10 November 2026.
This post is market news information only, not financial advice.
