Bitcoin fell below $74,000 on the night of November 9, 2026, triggering more than $1 billion in cryptoasset futures liquidations. Galaxy Digital research head Alex Thorn said bitcoin closed below its 50-week moving average after seven consecutive weeks above it. He compared the pattern with periods in 2011–2012 and 2019–2020, but said bitcoin did not set a new bear-cycle low on weekly closing data in either period.
Analyst Darkfost said the Fear & Greed Index had fallen below 30 and was approaching the extreme fear zone. Darkfost cautioned that the index is less useful for measuring sentiment during bear markets, when fear can persist throughout the cycle.
