Bitcoin at $75,700: 3 signals to watch before Wall Street reopens
Bitcoin at $75,700 on Sunday: leverage up, ETF in the red for 2026, Wall Street and Iran. 3 signals to follow before reopening on Monday.
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Three issues weigh more heavily than any price prediction before Wall Street reopens on Monday. And two of the three come from outside the crypto market.
The numbers first. BTC is worth around $75,800 this Sunday at midday. According to CoinGecko, it has not left a corridor of $75,540 to $76,150 for 24 hours. Its capitalization reaches 1,520 billion dollars, or a dominance of 57.85% of a global crypto market of 2,634 billion. The alternative.me Fear & Greed Index (a 0 to 100 rating of market sentiment) fell to 25 on Saturday, in the “extreme fear” zone, before rising to 28 on Sunday. It was 64 a month ago.
The most followed technical support is right under the price. The 50-week simple moving average is moving towards $75,500 and bitcoin is hovering right there. Keith Alan, co-founder of Material Indicators, warns that the $75,500 area must hold or risk a decline towards $69,000.
A violent fall usually cleans the lever. Not this time. Open interest on bitcoin futures contracts measures the total open positions, long and short combined. However, according to Glassnode data relayed on November 6 and 7, it swelled by nearly $1.5 billion during the decline. One billion of that total arrived during U.S. trading hours on Thursday. In addition, financing rates have started to rise again. Leveraged buyers pay this rent to sellers when bullish bets dominate. Clearly, traders buy back the fall on credit.
This fresh lever is piled up on a field of ruins. CoinGlass recorded $1.05 billion in positions liquidated in 24 hours on Friday, the vast majority of which were long positions. An open interest that rises when the price falls creates the fuel for the next cascade. Longs opened this week jump first if $75,500 drops. And if the price rises again, it is the short sellers who run after the market.
The twelve US spot Bitcoin ETFs returned $1.28 billion net last week. This is their worst weekly report since the end of June according to SoSoValue data compiled by The Block. Thursday and Friday concentrated the hemorrhage, with 430 then 412 million exits. BlackRock's IBIT alone signed 403 million withdrawals on Friday, or 88% of the session's gross outflows.
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- Journal du Coin8 Nov, 16:00
| Publisher Journal du Coin (general tier) | +72 |
| Checkable figures cited | +3 |
| Total | 75 |
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