Bitcoin approached the $73,000 area as technology stocks weakened, U.S. spot Bitcoin ETFs recorded heavy withdrawals and markets priced in another Federal Reserve rate increase, according to TechFlow’s November 9, 2026 report.
The article placed BTC near $74,120 on Monday, down 2.32% over 24 hours, after a Sunday decline toward $73,500—its lowest level since August 21. Its central interpretation was that Bitcoin’s immediate outlook depended heavily on developments outside crypto: AI-related equity risk, inflation and interest-rate expectations.
Technology-market stress spills into Bitcoin
TechFlow reported that Nvidia’s board announced an independent investigation on Sunday, November 8, following reports that CEO Jensen Huang had been targeted by a foreign intelligence operation. A committee of independent directors would retain outside counsel. Huang acknowledged an extramarital affair in an employee email that day and said he would cooperate fully.
The report identified the woman as Alice Huang, a former executive at Nvidia customer MegaSpeed. It cited an October New York Times report saying U.S. intelligence agencies believed she might have passed information to Beijing. Nvidia’s board said it had no reason to believe U.S. national security or company secrets had been compromised. China’s foreign ministry denied the espionage allegations on Monday.
Nasdaq 100 futures initially fell and then rebounded. According to The Kobeissi Letter, as cited by TechFlow, roughly $250 billion in market value was lost before about $300 billion was recovered within seven minutes. By Monday’s premarket session, Nasdaq futures had turned lower again and Nvidia was down nearly 5%.
Bitcoin fell toward $73,500 before briefly recovering above $75,000. CoinGlass data cited in the article showed approximately $1.12 billion in leveraged crypto positions liquidated over the 24 hours ending at 09:00 UTC on Monday.
Election-related concerns had already hit AI and crypto shares
The source linked these moves to a broader selloff following the November 3 U.S. midterm elections. It reported that Democrats won both chambers of Congress and that several successful candidates had pledged restrictions on AI data centers over electricity prices and water consumption. In Texas, described as the country’s largest data-center market, the incoming governor had campaigned for a pause on new construction.
Bitcoin recovered to $81,000 on November 4, but the following day the Nasdaq Composite fell 5.5%, the Philadelphia Semiconductor Index dropped more than 12%, Nvidia lost 9.26% and AMD declined 17% despite earnings that exceeded expectations. Bitcoin fell from about $80,300 to a closing level near $76,000, also roughly 5.5% lower.
IREN and Applied Digital, which began in Bitcoin mining and subsequently built facilities and rented computing capacity to AI customers, each fell more than 14% that day.
The selling extended to South Korea on November 6. The KOSPI opened down 8.55%, triggering a 20-minute trading halt. TechFlow noted that Samsung Electronics and SK Hynix, suppliers of high-bandwidth memory to Nvidia, together accounted for roughly half the index’s market capitalization.
ETF withdrawals weakened the demand picture
According to SoSoValue figures cited by TechFlow, U.S. spot Bitcoin ETFs recorded $1.28 billion in net outflows from November 2–6, their largest weekly withdrawal since late June. BlackRock’s IBIT accounted for approximately $1.21 billion, or about 95% of the total.
November 4—the equity-market rebound day—was the week’s only session with aggregate net inflows. The withdrawals shifted the ETFs’ year-to-date balance from approximately $450 million in net inflows a week earlier to between $800 million and $900 million in net outflows. That was the first negative year-to-date balance since late September.
The article also reported a separate crypto-specific risk: an October 29 theft of approximately $6.3 billion from Binance hot wallets over about 20 minutes. It described the incident as the largest recorded crypto theft, roughly four times the Bybit theft. TRM Labs and Chainalysis attributed it to the North Korean group TraderTraitor.
Binance said it would reimburse losses in full, and approximately $3 billion had been frozen onchain. Elliptic estimated that attackers still controlled around $3.3 billion in assets that could not be frozen, including 18,270 BTC. TechFlow identified potential sales of those coins as an additional supply risk—not a confirmed sale.
Inflation was the next conditional catalyst
At the time of publication, October U.S. CPI was scheduled for Tuesday at 8:30 a.m. Eastern Time, with PPI due Friday. TechFlow described CPI as the final inflation report before the December Fed meeting.
The article reported that the Fed had raised rates in September for the first time in three years, then held its target range at 3.75%–4.00% in October. September CPI rose 3.7% year over year, 0.3 percentage points above August, with gasoline accounting for more than half the monthly increase. October payrolls increased by 165,000, compared with expectations of 65,000.
CME FedWatch put the probability of a 25-basis-point December increase at 78.8%. Economists generally expected October CPI to rise about 0.3% month over month. The institutional scenarios summarized by TechFlow suggested an above-consensus reading could push the rate-hike probability above 85%, while monthly core CPI of 0.2% or less could bring it below 70%. These were conditional estimates, not established outcomes.
AI cloud provider CoreWeave was also scheduled to release third-quarter earnings after Tuesday’s U.S. market close.
Oil provided another possible transmission channel. WTI traded near $90 a barrel on Monday, and Donald Trump told CNN that another U.S. strike on Iran was unlikely. Economist Robin Brooks said oil could fall to $75 and argued that lower prices would support Bitcoin, equities and precious metals. That outlook was Brooks’s assessment.
The levels TechFlow identified
Bitcoin had fallen below its 50-week moving average of $75,492 and was approaching its 21-week average of $73,078. CryptoQuant estimated short-term holders’ cost basis at $75,691, implying aggregate unrealized losses for that cohort. Coins last transferred one to three months earlier had a cost basis near $79,300; TechFlow argued that a recovery toward that level could encounter break-even selling.
The article’s near-term conclusion was conditional: if CPI reinforced expectations of another rate increase, the area around $73,000 could become the first test. It also reported six consecutive trading days of IBIT outflows beginning October 30, totaling approximately $1.44 billion.
These figures and scenarios describe the source’s November 2026 reporting context, not current market conditions.
Original source: TechFlow, by 库里, published November 9, 2026, at 21:23:03 UTC+8.
