Nov. 10 (CandyPulse) — Stocks had their best day since April on Monday. Bitcoin didn't join the party. The world's largest cryptocurrency slid below $74,000 during Nov. 9 trading, touching its lowest level since August, as worries about tougher U.S. regulation returned.
Key takeaways
| Item | Reading |
|---|---|
| Intraday low | About $73,500–$73,700 (lowest since August) |
| Spot ETF flows last week | About −$1.28 billion |
| Liquidations | About $1.0–$1.1 billion |
| Ether | Down about 5% |
| Support to watch | $70,000 |
| First level to reclaim | $74,000 |
Exact prices differ slightly between data providers.
After Democrats won control of Congress in the midterms, investors began to price in a less friendly climate for crypto. Reports say Senator Elizabeth Warren, a long-time critic of the industry, is tipped to lead the powerful Senate Banking Committee, which could mean closer scrutiny and slower progress on pro-crypto laws. The industry had spent heavily on the elections; see crypto's $176 million midterm spending.
Several pressures landed at once:
Monday's stock rally was driven by falling oil and a rebound in chipmakers (market wrap). Bitcoin's problems are more specific: regulation and fund outflows. It's a reminder that crypto doesn't always follow Wall Street.
Sharp drops are uncomfortable, but they're part of how this market behaves. If volatility worries you, a steady approach, such as buying small fixed amounts on a schedule instead of trying to time the market, can take some of the stress out. And if you're new to terms like "liquidation" or "ETF", our crypto glossary explains them simply.
Three things to watch: today's U.S. inflation (CPI) report, this week's ETF flow data, and whether Bitcoin can reclaim $74,000 or slips toward $70,000.
More from today's markets:
Track the market on our Bitcoin price today and crypto prices today pages, follow the Crypto News Today desk, and catch up every Sunday with CANDY Weekly.
Disclaimer: This article is for information only and is not financial advice. Market figures move quickly and different data providers can show slightly different numbers. Always do your own research before making any investment decision.
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