Key facts
- CoinGlass showed $1.2 billion in 24-hour crypto liquidations, with $1.04 billion from long positions.
- Bitcoin positions accounted for $324 million of the total, nearly 87% of it in longs.
- Bitcoin's 50-week EMA sits near $78,250, above the 200-week EMA at about $69,790.
- The weekly RSI reading was 47.8 and the ADX was 21.9, below the 25 threshold for a strong trend.
- The S&P 500 was up 1.9% and the Nasdaq Composite up 2.2% by 11:30 a.m. Eastern on November 9.
Bitcoin was up 0.7% at $74,559 on November 9, 2026, after touching its lowest level in more than two months, according to a Decrypt report. The rebound followed a wave of forced selling in crypto derivatives, with a CoinGlass snapshot showing $1.2 billion in liquidations over 24 hours. About $1.04 billion of the total came from longs, or bets on higher prices. Bitcoin positions accounted for $324 million, nearly 87% of it in longs.
Exchanges liquidate positions when traders can no longer cover their losses with the collateral they have posted. Bitcoin had rallied from roughly $57,700 to $87,350 before sliding back toward $75,000. The coin traded at $74,685 after an early dip to $73,667, with the week's candle still open.
On the weekly chart, the 50-week exponential moving average sits near $78,250, above the 200-week EMA at about $69,790. Bitcoin is trading below the faster average, and the gap has narrowed, which the report said increases the possibility of a death cross in the future. The Relative Strength Index was 47.8, close to the midpoint with a slight tilt toward sellers. The Average Directional Index read 21.9, below the commonly used 25 threshold for a strong trend.
US stocks rose on November 9 as oil prices fell, with the S&P 500 up 1.9% and the Nasdaq Composite up 2.2% by 11:30 a.m. Eastern, the report said. Brent crude fell 4.3% to about $94 a barrel. The Bureau of Labor Statistics is due to release the October consumer price index on November 10, after a stronger-than-expected jobs report pushed traders to price in roughly an 80% chance of a quarter-point Federal Reserve rate hike in December.