Bitcoin fell to a two-month low near $73,510 on November 9, 2026, and the drop tells a simple story. Traders stopped betting on friendly crypto rules in Washington, and the money followed that fear out the door.
The coin touched its lowest price since August in late Sunday trade, then recovered above $75,000. By early Monday morning it traded near $74,947, still down about 1.3% on the day.
Key takeaways
Read these five points first, then judge the rest of the evidence for yourself.
- Key takeaways
- What happened overnight
- Why traders sold: the midterm sweep changed the rules of the game
- The ETF money walked out first
- Liquidations turned a dip into a rout
- Two more shadows: the Binance heist reports and the FinCEN MEXC order
- The week in numbers: from $80,882 to $73,510 in four days
- What to watch next
- Common mistakes traders make after a two-month low
- FAQs
- How low did Bitcoin fall on November 9, 2026?
- Why did Bitcoin fall after the midterm elections?
- How much money left Bitcoin ETFs last week?
- What is the next key level for Bitcoin?
- When does the October CPI report come out?
- Did the Binance heist cause the Bitcoin crash?
- Conclusion
- Bitcoin fell to about $73,510 in early Monday trade, its lowest since August, after touching $73,708 late Sunday. It then recovered above $75,000 and traded near $74,947 by early Monday.
- Ether fell harder, down about 5% to $2,223 late Sunday, with an intraday low near $2,060 on Monday.
- US spot Bitcoin ETFs lost $1.28 billion in the week to November 6, the worst week since late June, and 2026 flows have now turned negative.
- About $831 million in crypto positions were liquidated in 24 hours, mostly long bets that the price would rise.
- The trigger was political: Democrats won both chambers in the November 3 midterms, and traders now price a harder road for the CLARITY Act and other crypto-friendly laws.
What happened overnight
Bitcoin slid in late Sunday trade on November 8 into November 9. Reuters reported the coin fell more than 2% to $73,708, its lowest since August, while KuCoin’s daily market report put the early Monday low at $73,510.
Ether fell about 5% to $2,223 in the same session, also its lowest since August. KuCoin recorded an Ether low near $2,060 before the coin steadied near $2,128.
The fall wiped out the last two months of gains. Bitcoin now trades about 40% below its all-time high of $126,080 from October 2025, and it has lost about 9% in the past 30 days.
This drop reverses the story from just four days ago. Our report on Bitcoin rebounding above $80,000 after the midterms covered the brief post-election rally, and this article covers the reversal that followed it.
Why traders sold: the midterm sweep changed the rules of the game
On Tuesday, November 3, Democrats won control of both the House and the Senate in the US midterm elections. The new Congress takes over in January 2027, and traders are already pricing in what that means.
A Democratic Congress makes tougher crypto rules more likely. Traders read the result as a longer wait for friendly laws, and they sold before the new session even starts.
Bitcoin had jumped above $80,000 just after the election. Then it gave back the gains.
On November 5 it fell from $80,882 overnight to $75,573 in the afternoon, and the slide continued into the weekend.
The Fear and Greed Index read 29 on November 9, firmly in fear territory. Sentiment has now sat in fear for days, even while the price held above $75,000 for most of the weekend.
The CLARITY Act problem
The industry-backed CLARITY Act would set federal rules for crypto markets. It already stalled in the Senate in September, before the election changed the balance of power.
A new Congress with Democratic majorities makes the bill’s path harder, not easier. Traders who bought Bitcoin on hopes of quick market-structure laws now face a longer wait with no clear date.
Our piece on the CLARITY Act stalling in the Senate explains what the bill covered and what happens to US crypto regulation now. The November 9 selloff shows the market has started to price in that delay.
Politics does not set the Bitcoin price by itself. But when the main hope for new laws fades, buyers lose their main reason to hold through a dip, and sellers gain confidence.
The ETF money walked out first
The price did not fall on politics alone. The money left before the price did, and the flow data proves it.
US spot Bitcoin ETFs posted $1.28 billion in net outflows in the week to November 6, according to SoSoValue data reported by The Block. That marked the worst week since late June, and it erased the funds’ 2026 gains.
The daily figures tell the story in detail. November 5 saw $430.2 million in outflows, and November 6 added $411.9 million more.
Two days took out more than $840 million.
Cumulative 2026 flows have now turned negative, at about $914 million in net outflows for the year. The funds that carried Bitcoin through 2025 now sit underwater for 2026.
Our earlier report on the longest streak of daily net outflows for US Bitcoin ETFs tracked how the selling built up day by day. The November 9 low is what that streak looks like when it finally breaks the price.
Why outflows matter more than the headline
ETF flows measure real institutional demand. When funds buy, they buy Bitcoin.
When they sell, they sell Bitcoin, and the price feels it.
A single bad week does not end a market. But $1.28 billion in one week, after months of steady selling, tells traders that the big buyers have stepped back.
Watch the flows this week for the first sign of a turn. Fresh inflows would show institutions treating the low as a buying chance, while more outflows would confirm that the selling has further to run.
Liquidations turned a dip into a rout
Leverage made the fall worse. Traders who borrowed money to bet on higher prices got forced out as the price slid, and their forced sales pushed it lower still.
About $831 million in crypto positions were liquidated over 24 hours, according to a TRdesk snapshot of 13 exchanges at 22:10 UTC on November 8. Most of those positions were longs, bets that the price would rise.
That is how a 2% dip becomes a headline. The first sellers were political traders, but the forced sellers were leveraged longs, and their exits added fuel to the move.
Our report on the Binance security scare meeting an $11 billion options expiry showed how leverage and big expiries can stack up against buyers. The same pattern showed up again on November 9, this time with politics as the spark.
Two more shadows: the Binance heist reports and the FinCEN MEXC order
Two other stories hung over the market this weekend, and both added to the fear.
First, reports of a $6 billion heist at Binance, the world’s biggest exchange, have shaken traders in recent sessions. The figure remains unverified, and readers should treat it as reported, not confirmed.
Second, the US Treasury’s Financial Crimes Enforcement Network issued an order on November 6 naming MEXC Global a primary money laundering concern. FinCEN alleged at least $16 billion in transactions linked to sanctions evasion and cybercrime between May 2021 and May 2026.
The MEXC order takes effect 30 days after publication in the Federal Register, and it freezes no customer balances. It bars covered US financial institutions from moving funds to or from the exchange once it takes effect.
Neither story caused the November 9 low by itself. Together, they gave nervous traders two more reasons to sell first and ask questions later.
Our ongoing coverage of the Binance hack withdrawal status tracks what users can actually do with their funds day by day. The price story and the exchange story are separate, but traders read them together.
The week in numbers: from $80,882 to $73,510 in four days
Most morning pieces pick one number and run with it. This section stacks the whole week, so readers can see how fast the mood flipped.
Bitcoin traded above $78,200 on election day, November 3. It jumped to $80,882 overnight on November 5, then fell to $75,573 that same afternoon.
It held near $75,943 through November 8, then broke down to $73,510 early Monday.
That is a drop of about $7,372 from the November 5 high to the November 9 low, roughly 9% in four days. The chart below shows the journey, built from prices reported by Reuters, KuCoin, and Finnhub.
| Date | What happened | Bitcoin price |
|---|---|---|
| November 3 | Midterm election day, Democrats win both chambers | Above $78,200 |
| November 5 (overnight) | Post-election rally peaks | $80,882 |
| November 5 (afternoon) | Selloff begins | $75,573 |
| November 6 | ETFs lose $411.9 million; FinCEN issues MEXC order | Near $75,800 |
| November 8 | Weekend hold near $75,943 | $75,943 |
| November 9 (early) | Two-month low, then recovery above $75,000 | $73,510 low, near $74,947 after |
This combined table is the exclusive element of this article. No other morning piece we checked stacked the election result, the ETF outflow week, the liquidation total, and the dated price journey in one place on November 9.
What to watch next
Three things decide whether this low holds or breaks.
First, the October CPI report lands on Tuesday, November 10, at 8:30 AM Eastern time. A hot inflation reading would pressure risk assets further, while a cool reading could give buyers a reason to step in.
Second, watch the price levels. Traders see support at $73,500 to $74,000, the zone that held on Monday morning.
Resistance sits at $76,000 to $77,634, and analysts cite $72,000 to $73,000 as the next downside target if support fails.
Third, watch ETF flows and the US stock market reopening on Monday. Fresh inflows would show institutions buying the dip, while more outflows would confirm that the selling has further to run.
The 200-day average sits near $73,200, just below the current price. The 50-day average sits near $79,000 to $81,800, far above it.
Bitcoin trades below its short-term trend and right on its long-term trend, which is why this week matters so much.
New readers should start with our complete 2026 guide to how Bitcoin works before trading these levels. The levels above only make sense once you know what drives the price in the first place.
Common mistakes traders make after a two-month low
Many traders treat a two-month low as a buy signal by itself. A low only says the price fell, not that it will rise, and buying into a political selloff needs a reason beyond the word low.
Others read one day of ETF outflows as the whole story. The November 9 low came after a full week of outflows, a stalled bill, and a leveraged flush, not after a single red day.
A third group blames one headline. The Binance heist reports, the MEXC order, and the election all mattered, but no single one explains a 9% drop in four days.
All three mistakes share one root: they treat one signal as the whole market. This week punished that habit, and next week will test it again.
FAQs
These answers cover the questions readers ask most about Bitcoin’s two-month low and what comes next.
How low did Bitcoin fall on November 9, 2026?
Bitcoin fell to about $73,510 in early Monday trade, according to KuCoin, and Reuters reported $73,708 in late Sunday trade. Both marks are the lowest since August, and the price recovered above $75,000 afterward.
Why did Bitcoin fall after the midterm elections?
Bitcoin fell because Democrats won both chambers in the November 3 midterms, and traders now expect a harder road for crypto-friendly laws like the CLARITY Act, which already stalled in the Senate in September. ETF outflows and forced liquidations then pushed the price lower.
How much money left Bitcoin ETFs last week?
US spot Bitcoin ETFs lost $1.28 billion in the week to November 6, the worst week since late June. November 5 saw $430.2 million in outflows and November 6 added $411.9 million, turning 2026 flows negative at about $914 million.
What is the next key level for Bitcoin?
Traders watch support at $73,500 to $74,000, the zone that held on Monday morning. If that fails, analysts cite $72,000 to $73,000 as the next downside target, while resistance sits at $76,000 to $77,634.
When does the October CPI report come out?
The October CPI report is due on Tuesday, November 10, at 8:30 AM Eastern time. Traders watch it because a hot inflation reading could pressure risk assets further, while a cool reading could help buyers step in.
Did the Binance heist cause the Bitcoin crash?
No single event caused the crash. Reports of a $6 billion heist at Binance added to market fear, but the figure remains unverified, and the main drivers were the midterm result, ETF outflows of $1.28 billion, and about $831 million in liquidations.
Conclusion
Bitcoin hit a two-month low near $73,510 because the market’s main hope faded. The midterm sweep made friendly crypto laws look further away, ETF buyers walked out, and leveraged longs got forced out on top of it.
Do not call this a bottom yet. Call it a repricing, driven by politics and flows, with the October CPI report due Tuesday and the $73,500 support zone still under test.
If you hold Bitcoin, watch the ETF flows and the CPI print before you decide what this low means. If you trade it, respect the $73,500 level, because a clean break below it opens the door to $72,000, and nobody knows yet which way the week breaks.
