Bitcoin price near $75,000 as stocks rebound ahead of US inflation report
ITF Team3 min read
Bitcoin hovered around $75,000 on 11/9/2026 after $1.2 bn of crypto liquidations, while U.S. equities rallied and the CPI report looms, keeping a December Fed hike in focus.
Key takeaways
- Bitcoin traded near $74,560 on 11/9/2026 after a 0.7% rise.
- CoinGlass recorded $1.2 billion in 24‑hour crypto liquidations, $324 million of which were Bitcoin longs.
- Traders are pricing an ~80% probability of a 0.25 percentage‑point Fed hike in December ahead of the October CPI release.
- Key technical levels for Bitcoin are $74,400 support and $76,040 resistance on the weekly chart.
Bitcoin lingered around $75,000 on Wednesday, 9 November 2026, as U.S. equity markets recovered and oil prices fell. The price action came after a wave of $1.2 billion in crypto‑derivative liquidations, with $324 million tied to Bitcoin long positions. The market’s attention now turns to the Bureau of Labor Statistics’ October consumer‑price index, due tomorrow, which will test the prevailing view of an 80% chance of a quarter‑point Fed rate hike in December.
Equity rally and commodity backdrop
The S&P 500 rose 1.9% and the Nasdaq Composite gained 2.2% by mid‑morning Eastern, buoyed by a 4.3% drop in Brent crude to roughly $94 a barrel. The oil decline lifted risk appetite, even as Nvidia shares slipped, tempering enthusiasm in the tech sector. This broader risk‑on environment helped stabilize Bitcoin after a sharp sell‑off that had pushed it to a two‑month low.
The rally in equities also reinforced expectations that the Federal Reserve will tighten again in December. A stronger‑than‑expected jobs report earlier in the week nudged market pricing toward an 80% probability of a 0.25 percentage‑point rate increase, a scenario that could influence real yields and, by extension, the appeal of non‑yield‑bearing assets like Bitcoin.
Crypto liquidations and market mechanics
CoinGlass data showed $1.2 billion of positions were forced to close in the past 24 hours, with long positions accounting for $1.04 billion of that total. Bitcoin alone contributed $324 million, representing nearly 87% of the long‑side liquidations. When traders cannot meet margin calls, exchanges automatically liquidate positions, accelerating price moves and often creating short‑term volatility spikes.
The forced selling pushed Bitcoin down to $73,667 before a modest rebound lifted it back to $74,685. Although the weekly candle remains open, the price is now hovering just above the identified support zone at $74,400, a level that could trigger buying if breached lower.
Read also: USD weakens as US‑Iran agreement speculation pressures dollar
Technical landscape on the weekly chart
The 50‑week exponential moving average (EMA) sits near $78,250, while the 200‑week EMA rests at about $69,790. Bitcoin is trading below the faster 50‑week EMA, narrowing the gap that could precede a potential death cross if the downward momentum persists. The Relative Strength Index (RSI) reads 47.8, indicating a near‑neutral stance with a slight bias toward sellers.
Trend strength, measured by the Average Directional Index (ADX), is 21.9, below the 25 threshold that signals a robust trend. Nonetheless, directional indicators still give buyers a modest edge. On the downside, a weekly close beneath $74,400 would open the path to $72,550 and then the $69,000 region near the 200‑week EMA. On the upside, breaking the $76,040 resistance could revive the march toward the 50‑week EMA at $78,250 and eventually the prior high of $87,350.
What to watch next
The October CPI release, scheduled for 9 November 2026, will be the first major macro data point after the jobs surprise. A reading above expectations could reinforce the market’s view of a December Fed hike, potentially lifting real yields and pressuring Bitcoin lower. Conversely, a softer CPI could revive risk appetite and support a bounce toward the $76,040 level.
- October CPI release – 9 Nov 2026
- Potential Fed rate hike – December 2026 meeting
- Key technical supports: $74,400, $72,550, $69,000
- Key technical resistances: $76,040, $78,250, $80,360
Frequently asked questions
Why did Bitcoin experience $1.2 billion in liquidations?
CoinGlass reported $1.2 billion of crypto‑derivative liquidations in a 24‑hour period, with $324 million tied to Bitcoin longs. When traders cannot meet margin calls, exchanges automatically close positions, which amplified price swings and pushed Bitcoin to a two‑month low before the modest rebound.
How does the upcoming CPI report affect Bitcoin?
The October consumer‑price index, due on 9 Nov 2026, will influence expectations for a December Fed rate hike. A higher‑than‑expected CPI could cement an 80% probability of a 0.25 percentage‑point increase, raising real yields and making non‑yielding assets like Bitcoin less attractive, potentially pressuring the price below $74,400.
Official data sources
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This article is compiled from international market news for information only. It is not investment advice.