Bitcoin struggles below $75K as Nasdaq rallies and crypto lags

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Wall Street staged a sharp Monday recovery, but Bitcoin stayed pinned near its weakest level since August after a brutal weekend

Mon 9 Nov 2026 · 17:25 EST · 2 min read

In Bitcoin

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Wall Street had a good Monday. Crypto did not get the memo.

Stocks staged a sharp recovery on November 9, with the Nasdaq leading the charge. Bitcoin, meanwhile, spent the day trading between $74,162 and $74,500, stuck below the $75,000 line for the first time since August.

The numbers behind the slide

The damage started over the weekend. Bitcoin sold off and briefly touched $73,500, its lowest point since August.

That is a notable reversal from earlier in the month. Bitcoin had pushed above $80,000 in early November before the floor gave way.

Measured against the roughly $78,000 level where it traded earlier in November, Bitcoin is down approximately 5%.

The derivatives market made things worse. More than $1.2 billion in leveraged crypto positions were wiped out in the 24 hours before Monday’s session, according to Coinglass data.

Of that total, $1.04 billion came from long positions. Put plainly, the people who borrowed money to bet on higher prices were the ones who got flattened.

The ETF crowd heads for the exits

Leveraged traders were not the only ones pulling back. Spot Bitcoin ETFs saw outflows topping $1.28 billion over the week.

BlackRock’s iShares Bitcoin Trust, ticker IBIT, accounted for approximately $1.21 billion of that. One fund, in other words, carried almost the entire weight of the exodus.

Ethereum did not escape the drag either. ETH traded between $2,108 and $2,123, sliding somewhere between roughly 0.8% and 5% alongside Bitcoin depending on the measurement window.

A post-election hangover

The broader backdrop is political. The sell-off followed a wave of risk-off sentiment after the US midterm elections, where Democratic gains raised concerns about the regulatory outlook for crypto.

That helps explain the divergence. Equities rallied on Monday, but stocks do not carry the same regulatory question marks that hang over crypto.

What this means for investors

The most immediate takeaway is that the $75,000 level has flipped from a floor into a ceiling, at least for now. Bitcoin spent Monday unable to reclaim it even as equities offered a favorable tailwind.

The ETF flows deserve close attention in the coming weeks. Outflows exceeding $1.28 billion in a single week, concentrated in IBIT, suggest that some institutional holders are reducing exposure while the political picture sorts itself out.

For Ethereum holders, the picture mirrors Bitcoin’s. ETH sitting just above $2,100 leaves it moving in sympathy with the broader market.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.