Why is crypto down today? Bitcoin falls 2.1% to lowest since mid-August as stocks sell off

TradingGain Newsroom·16h ago·08 Nov 2026, 18:30 UTC

Bitcoin fell 2.11% in the last 24 hours to about $74,242, and most of the market fell with it, with only 77 of 253 tracked coins up. Ether dropped 5.67% and XRP fell 6.13%. The most likely reasons are weakness in US stock markets after Nvidia's earnings reports and heavy selling from Bitcoin ETFs.

What moved the market

• Bitcoin dropped to its lowest level since mid-August as Nvidia's earnings added selling pressure to stock-market futures, and traders may watch whether stock weakness keeps dragging on crypto.
• Bitcoin ETFs saw about $1.3 billion leave in their largest weekly outflow since late June. BlackRock's IBIT alone lost $1.21 billion as Bitcoin fell below $76,000.
• Sentiment remains cautious, with the Fear and Greed Index at 29 (Fear), up slightly from 28 yesterday. Bitcoin's open interest fell 1.44%, which may show some traders closing positions.
• Bitcoin's 8-hour funding rate is 0.0088%, while Ether's is -0.003%, so traders are positioned differently across the two coins. Regulatory pressure also rose after a senator asked four crypto firms for records.

What to watch next

Bitcoin is trading near its first support at $73,381, and a second support sits at $71,939, so a break below these levels could signal further losses. On the upside, watch resistance at $76,217 and then $77,611, and keep an eye on this week's US inflation data, which can shift interest rate expectations.

Bitcoin levels to watch today

Classic daily pivot levels for BTC, calculated from the last completed daily candle.