The Bitcoin price closed the week of November 2–8, 2026 at around $74,754, down 4.45% and marking a fifth consecutive weekly loss. Bitcoin briefly jumped above $80,000 mid-week after the US midterm election results, but selling from ETFs and worries about interest rates quickly pushed the price back down.
For investors who hold Bitcoin or are thinking about investing in Bitcoin, the key question is: is this a time to step back, or an opportunity? This article recaps the week in the crypto market, the main factors to watch, key support and resistance levels, and strategies for investors who want to manage risk during a highly volatile market.
Bitcoin Price Recap This Week (November 2–8, 2026)
Bitcoin opened the week at $78,232 and closed at $74,754. Since the weekly close of $86,507 on October 4, the price has fallen about 13.6%. After the CPI report on November 10, Bitcoin dropped to an intraday low of about $72,787 before recovering to trade around $73,000.
- Nov 3 – US midterm election day; Bitcoin traded between $76,500 and $77,800
- Nov 4 – Democrats won both chambers of Congress; Bitcoin hit a weekly high of about $81,004
- Nov 5 – A sell-off in chip and AI stocks dragged the Nasdaq and crypto down to about $75,573
- Nov 6 – US jobs report showed +165,000 jobs; the daily low was about $74,921
- Nov 7 – The Fear & Greed Index fell to 25 (Extreme Fear); Bitcoin traded around $75,780
- Nov 8 – Bitcoin dipped to $73,477, its lowest level since August 21, before closing at about $74,754
Note: The move above $80,000 was driven by about $378 million in short liquidations within a single hour, not by real new buying, which is why it did not last.
3 Factors Weighing on the Crypto Market This Week
1. Over $1.28 Billion in Outflows from US Bitcoin ETFs
US spot Bitcoin ETFs saw net outflows of about $1,281.7 million over five trading days. Only one day (November 4) saw inflows, of $74.6 million. BlackRock's IBIT alone lost about $1.21 billion, pushing 2026 year-to-date flows back into negative territory. This suggests institutional investors are reducing risk.
2. Odds of a December Fed Rate Hike Above 75%
The policy rate stands at 3.75–4.00% after the Fed raised rates in September. CME FedWatch put the odds of a rate hike at the December 9 meeting at 76.8%, up from 66.9% a week earlier. Higher rates tend to pressure risk assets such as crypto, and the latest inflation data added to those concerns.
Update: October CPI results (released November 10, 2026, 8:30 AM ET)
- Headline CPI rose 0.4% month over month, above the 0.3% forecast, though slower than September's 0.6%
- Core CPI rose 0.3%, above the 0.2% forecast, its third straight month at that pace
- There is no official year-over-year figure, because the BLS did not publish October 2025 CPI during the US government shutdown (KPMG estimates about 4.2%)
- Markets now price about an 85% chance of a 25 bp Fed hike on December 9 (up from 77% before the release), and Fed Governor Waller has raised the option of a 50 bp hike
- Bitcoin fell to an intraday low of about $72,787, with over $632 million in liquidations in 24 hours, mostly long positions
3. Bitcoin Is Moving with Tech and AI Stocks
The sell-off in chip and AI stocks on November 5–6 hit the Nasdaq hard, and Bitcoin fell with it. This shows the market still treats BTC as a risk asset similar to tech stocks, rather than a safe haven. Negative industry news added to the pressure, including the Binance hack in late October and the FinCEN order against the MEXC exchange.
Key dates to watch: MSCI index review Nov 11 · Fed meeting minutes Nov 18 · PCE Nov 25 · FOMC meeting Dec 8–9
Key Support and Resistance Levels, and Bitcoin Investing Strategies for a Volatile Market
The support level the market is watching most closely is the 200-day moving average at around $73,170. If it breaks, the next zone is $69,000–$70,000. After the CPI report, Bitcoin briefly fell below this level intraday before bouncing back above $73,000. Analysts say a sustained close below $73,000 could open the way toward about $69,000.
- Resistance $81,000–$81,850 – Heavy supply zone + 50-day moving average
- Resistance $80,000 – Psychological level
- Resistance $77,100–$77,300 – 100-day moving average
- Resistance ~$76,000 – Short-term holder cost basis
- Support $73,170 – 200-day moving average
- Support $69,000–$70,000 – Next support zone if $73,000 breaks
Strategies for Investors Who Value Stability
- Dollar-cost averaging (DCA) – Suits long-term investors. It averages out your cost without trying to time the market, but it takes time and won't deliver quick profits.
- Buying near support – Suits investors who follow the market closely. You get a lower entry price if support holds, but you need to set a stop-loss.
- Diversifying (BTC + USDT) – Suits investors with low to moderate risk tolerance. Park part of your funds in a stablecoin while you wait, but the USDT portion won't benefit if prices rise.
Warning: Only invest money you can afford to lose, avoid leverage during periods of high volatility, and trade only on platforms licensed by the Thai SEC.
Conclusion: Bitcoin Remains Under Pressure — Invest with Discipline on a Licensed Platform
This week, the Bitcoin price was pressured by ETF outflows, the risk of a Fed rate hike, and the tech stock sell-off. In the short term, watch whether the $73,000 support holds now that the hotter-than-expected CPI has raised the odds of a Fed hike on December 9.
For long-term investors, periods of extreme fear are often an opportunity to accumulate gradually, as long as you have a plan and manage your capital carefully.
Start trading crypto with confidence on a platform licensed by the Thai SEC. Set up a Bitcoin DCA plan in just a few clicks. Sign up and verify your identity today →
Risk warning: Digital assets are high risk. Prices can be extremely volatile, and investors may lose their entire investment. This article is not investment advice.
Sources: CryptoTicker, FinScans, Sunday Guardian, BeInCrypto, The Block, Bitcoin.com, KPMG (data as of November 11, 2026)
