Wintermute said it would remain cautious while Bitcoin traded below its 50-week moving average, identifying $68,000 as its next level to watch. In a market review reported by BlockBeats on November 9, 2026, the firm said reclaiming $80,000 would change that assessment.
Bitcoin loses its weekly moving-average support
According to Wintermute, Bitcoin rose as high as $81,000 on Wednesday but had surrendered those gains by Friday. On Sunday, it reached a low of approximately $73,500, just above its 200-day moving average near $73,000.
The weekly close was just below the 50-week moving average of $75,500, ending a run of seven consecutive weekly closes above that level.
Entering Monday, more than $1 billion in positions were liquidated across the crypto market. Ethereum liquidations exceeded Bitcoin liquidations, while almost all liquidations on the Bitcoin side involved long positions. Bitcoin fell approximately 4% during the period, with altcoins suffering larger declines.
ETF outflows and macro pressures
Wintermute reported that spot Bitcoin ETFs recorded $1.28 billion in weekly net outflows—the largest since June and enough to erase the year’s net inflows.
The firm linked the broader risk-asset weakness to a repricing of artificial-intelligence sector regulatory risks after Democrats won both chambers of Congress in the U.S. midterm elections. The S&P 500 fell 4.4% the preceding Thursday, its largest one-day decline since April 2025, while Bitcoin dropped below $75,000.
Friday’s nonfarm payroll report showed 165,000 jobs added, above market expectations of approximately 60,000. The reported probability of a December interest-rate increase rose to about 77%, from roughly 67% a week earlier.
Conditions behind Wintermute’s outlook
Wintermute outlined two conditions that could shape its assessment:
- Downside risk: A daily close below $73,000 and the 200-day moving average could open the way toward $68,000.
- A more positive stance: Bitcoin holding above $80,000 on a daily closing basis, alongside a week of net inflows into spot Bitcoin ETFs, would turn the firm’s assessment positive.
These were conditional thresholds in Wintermute’s review, not certain price outcomes.
At the time of the report, Wintermute identified Tuesday’s October CPI release as the first near-term test, with core CPI expected to rise 0.2% month over month. It also highlighted the Federal Reserve’s December 8–9 meeting, with the probability of a rate increase then around 77%.
Original source: BlockBeats, published November 9, 2026, at 22:51:59 (UTC+8). This article reflects the historical market review reported at that time.
