TLDR
- Bitcoin dropped to about $73,761 late Sunday, then rebounded above $75,000.
- More than $1 billion in crypto positions were liquidated in 24 hours, mostly longs.
- News about Nvidia’s CEO and stalled Iran talks hit while stock markets were closed.
- Ether fell below $2,100, and U.S. spot ETFs saw $530.1 million in outflows on November 5.
- Bitcoin now sits between support near $73,150 and resistance at $77,430.
Bitcoin slid to about $73,761 late Sunday, its lowest level since August. It then bounced back above $75,000 as traders reacted to a busy weekend of headlines.
Crypto was the only major market open over the weekend. That left digital assets to take the first hit from news that traditional markets could not yet price.
Weekend headlines hit a market with no other open exchange
Nvidia’s board opened an independent investigation after reports that CEO Jensen Huang had a relationship with Alice Huang. U.S. intelligence agencies believe she passed information to Beijing.
Jensen Huang admitted the affair in a message to employees and apologized. Nvidia said it has no reason to believe national security or company secrets were compromised.
BREAKING: Nvidia, $NVDA, CEO Jensen Huang sends a company-wide email regarding his recently reported relationship with a Chinese spy. pic.twitter.com/NTdoSgaxoy
— The Kobeissi Letter (@KobeissiLetter) November 8, 2026
Secretary of State Marco Rubio also said talks with Iran had stalled. He called Iranian demands “outrageous.”
Tensions in the Middle East usually push oil prices higher. Since the Iran war began in March, bitcoin has more often than not fallen when oil rallied.
A tokenized version of Nvidia stock on xStock fell 3.55% to $180.42 in 24 hours. The real stock closed at $186.64 on Nasdaq on Friday.
The Nasdaq fell nearly 5% last week, its fourth straight weekly loss. Investors have been questioning AI valuations and the returns on infrastructure spending.
Liquidations and outflows add to the pressure
CoinGlass data shows more than $1 billion in crypto positions were liquidated in 24 hours. Long positions, or bets on higher prices, made up $913 million of that.
Ether took the larger hit, with $448 million in liquidations against $272 million for bitcoin. The largest single order, worth $48 million, was in ether.
Ether dropped below $2,100 before recovering to $2,144. It is down 7.4% for the week, according to crypto.news.
Democrats won both chambers of Congress in last week’s midterm elections. Investors worry about stricter crypto rules, since the industry spent more than $300 million backing friendly candidates.
About $6.34 billion was reportedly stolen from Binance on October 29, and the FBI blamed North Korean-linked hackers. Customers withdrew a net $4.72 billion after services resumed.
U.S. spot bitcoin and ether ETFs had combined net outflows of $530.1 million on November 5. Bitcoin funds lost $430.2 million and ether funds lost $99.9 million.
Stronger jobs data raised expectations of a Federal Reserve rate hike in December, with market pricing near 80%. The U.S. dollar strengthened after the report.
Bitcoin is stuck between 200-day average support near $73,150 and 100-day average resistance at $77,430. The bounce to $75,000 had already stalled, according to CoinDesk data.
On Monday, Asian equities and U.S. stock futures recovered some ground. Bitcoin and ether stayed under pressure, with bitcoin near $74,584 and down 1.4% over 24 hours.
