Bitcoin stays below $75,000 as ETF outflows and Fed caution weigh

What happened

Bitcoin could not hold above $75,000 on November 10, trading around $74,733, according to CoinGecko data cited by Crypto.news. The coin was up 0.6% over 24 hours but down 2.8% for the week and nearly 10% for the month. It had briefly climbed past $75,400 in the prior session, then slipped back as buyers defended the $74,300 area. Blockonomi reported that Bitcoin stayed below $75,000 even as US stocks posted their strongest day in months.

ETF flows were a major drag. Crypto.news, citing Farside Investors, said US spot Bitcoin ETFs recorded about $1.28 billion in net outflows between November 2 and November 6, with redemptions on four of five trading days. BlackRock's iShares Bitcoin Trust accounted for roughly $1.21 billion of the withdrawals, while Fidelity's FBTC took in $93.1 million. Friday saw $411.9 million leave the funds after $430.2 million on Thursday; Wednesday was the only positive session, with $74.6 million in inflows. Outflows continued on November 9, when the funds lost another $201 million, including $213.2 million from IBIT. Blockonomi noted that US spot Ethereum funds also lost $365.2 million during the week.

Leverage and macro data added to the pressure. Crypto.news reported that more than $1 billion in leveraged crypto positions were liquidated during Sunday volatility, mostly longs, with Bitcoin accounting for about $278 million as prices briefly fell toward $73,700. Bitfinex analysts said in a November 4 assessment that Bitcoin's earlier move toward $80,000 was supported mainly by futures positions while direct spot purchases were subdued; futures open interest reached 701,548 BTC on November 3, the highest since September 22. Meanwhile, October US jobs growth of 165,000 raised expectations that the Federal Reserve could keep rates higher, and traders awaited the October CPI report on November 10 at 8:30 a.m. ET. Economists surveyed by FactSet expected a 0.2% monthly rise, Crypto.news said. Blockonomi reported market pricing showed more than an 80% chance of a December rate hike.

Why it matters

The retreat matters because it shows Bitcoin diverging from a broader risk-asset rally. Blockonomi reported that the S&P 500 rose 2.35% to 7,549.94 on November 9, the Nasdaq Composite gained 2.74% to 25,253.14 and the Dow added 2.15%, yet Bitcoin did not join the rebound. ETF redemptions suggest institutional demand has cooled, while weak spot buying means price recoveries depend more on leverage that can unwind quickly. The failed $75,000 test also turns former support into resistance, leaving the market sensitive to further outflows or a hot inflation print.

What the data shows

Technical readings underscored the cautious tone. Crypto.news cited a November 7 assessment that placed Bitcoin's 50-week moving average near $75,562, a level now acting as resistance. The daily RSI was near 36.5, below neutral, while the MACD stayed negative and the coin traded below its 10-, 20-, 50-, 100- and 200-day exponential moving averages. The lower Bollinger Band sat near $73,550. Analysts flagged $71,900 as a support level; a break below it could expose Bitcoin to $65,000, according to the report. Resistance was seen between $76,500 and $77,500, where leveraged positions could trigger liquidations on a move higher. Five-delta put implied volatility was 51 versus 38 for at-the-money options, indicating stronger demand for downside protection. Bitfire Research, in a November 9 note cited by Blockonomi, named $74,400 to $75,000 as near-term support.

Background

Bitcoin has struggled since a failed push above $80,000, and it has not reclaimed higher resistance levels after last week's sell-off, Blockonomi reported. Corporate treasuries are another area of focus: an October 30 assessment found about 1.3 million BTC held across 180 listed companies, and Bitfinex raised concerns about preferred-share financing, according to Crypto.news. Strategy said on November 9 that it bought another 1,036 Bitcoin for $81.9 million, lifting its holdings to 850,364 BTC; its average acquisition cost was $75,456, slightly above the market price. Peter Schiff, a longtime Bitcoin critic, pointed to Bitcoin's weakness while stocks and metals gained and repeated a bearish warning, Blockonomi reported. The outlet noted that Schiff has made similar calls before with mixed results.

What to watch

Traders will watch whether spot Bitcoin ETFs keep bleeding and whether buyers can hold the $74,300 to $75,000 area. The October CPI release and the Federal Reserve's December meeting are the main macro tests. On the chart, a sustained move above $75,562 would challenge the resistance that has capped Bitcoin, while a drop through $71,900 would put the $65,000 area in focus. Corporate treasury financing and derivatives liquidations also remain potential sources of volatility.

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