Bitcoin Ends Its Fifth Losing Week at $74,968 and Slips Below the 50-Week Average for the First Time in Seven
The weekly candle finished a shade under the long-term line that bulls had held since September, and Sunday evening's dip to $73,477 now frames a Tuesday inflation test.
Monday, November 9, 2026/2 min read
The question we left open on Sunday has an answer. Bitcoin finished the week ending 8 November at about $74,968, according to BeInCrypto, which makes it a fifth straight losing week and puts the weekly close roughly 0.7 percent under its 50-week moving average near $75,490.
That line matters more than the small gap suggests. The week ended 1 November closed at $78,220, three percent above it, and bitcoin had held above the average for seven straight weeks. Now the run is over.
Did bitcoin close below the 50-week average?
Yes, narrowly. Alex Thorn, head of research at Galaxy, noted that it was the first weekly close below the average in seven weeks, Phemex reported. Galaxy had flagged the average on Saturday as the test, and pointed out that in four of the five completed bear markets the first move back above it marked the bottom. It also cautioned that the signal is not foolproof: two of 13 past crossings were followed by a lower low.
The history in the BeInCrypto piece is mixed. After the 2011 to 2012 reclaim, bitcoin fell back under the average within three weeks and stayed under it for 20 weeks. In 2019 and 2020 it dipped below five times, including in the March 2020 crash, before recovering its earlier peak in December 2020. A single weekly close under the line settles nothing, but it is a better argument for the bears than anything they had a week ago.
Where is bitcoin trading on Monday morning?
Around $74,800, down about 1.3 percent on 24 hours, CryptoTicker said. On Sunday evening it dipped to $73,477 on Coinbase, its lowest since 21 August, before buying came in. Its daily close was $74,754. The 200-day average sits near $73,170 and the August low near $73,005; above, the resistance levels it cites are $75,500 and about $77,290. CryptoTicker's own view is that a test of the 200-day average is more likely than a quick recovery.
Bitcoin is about 13.6 percent below its 4 October weekly close of $86,507. Ether fared worse, falling to around $2,120 after roughly $343 million of long positions were liquidated, and the Fear and Greed Index stands at 29, still in fear.
The money has been leaving too. US spot bitcoin funds recorded about $1.28 billion of net outflows in the first week of November, and BlackRock's IBIT lost money on all five trading days, per CryptoTicker. The detail is in Sunday's note on the fifth losing week.
What could move bitcoin this week?
The big event is Tuesday's US consumer price report for October, due at 8:30am Eastern. Markets price roughly an 80 percent chance of a Federal Reserve rate hike in December, so a hot number would tighten the screws on every risk asset, bitcoin included. Another sell-off in AI stocks would not help either.
If bitcoin can reclaim $75,500 on a daily close it would take back the average and keep the September recovery intact. Two or three daily closes under $73,170 would say something different. Nobody can read that candle before it prints.
Published in The Outspoken Digest
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