Bitcoin Holds Near $74,600 and Ethereum Near $2,120 as Markets Await US CPI — Analysis, 10 November 2026
Bitcoin analysis: Bitcoin is stuck below $75,000 after falling to $73,708 on 8 November, its lowest level since August. Nearest support is $74,508, followed by $74,000 and the $73,708 low; a break below $71,900 could open the way toward $65,000. Resistance sits at $74,968, then $75,562 and $76,000 — Bitcoin needs to hold $75,000 and reclaim $76,000 before a sustained rebound looks likely. The daily RSI is around 36.5 and the MACD is in negative territory, with Bitcoin trading below its key moving averages. Bitcoin is down about 2.7% over the past week and nearly 10% over the past month.
Ethereum analysis: Ethereum is weaker than Bitcoin, down about 5.9% over the past week and around 15% over the past month, and it closed on 8 November at $2,124, its lowest daily close since 18 August. Nearest support is $2,112, with the $2,100–$2,150 zone and $2,083 below it; deeper support is near $1,949. Resistance is at $2,125, then the $2,155–$2,157 band and the Ichimoku Kijun level at $2,161. Ethereum developers have also delayed the Glamsterdam upgrade — the Hoodi testnet fork will not proceed until risks flagged by ChainSecurity are resolved.
What moved the market: US stocks had their biggest daily gain since April on Monday (Nasdaq up 2.74%, S&P 500 up 2.34%), but crypto failed to follow. US spot Bitcoin ETFs recorded net outflows of $430 million on 5 November and $412 million on 6 November — $842 million in two sessions — and Ethereum ETFs lost $93.19 million. More than $1 billion in leveraged crypto positions was liquidated on 9 November, about 88% of them long positions, with Ethereum accounting for roughly $500 million. On the brighter side, on-chain data from CryptoQuant shows large holders accelerated Bitcoin accumulation as the price corrected toward $75,000 — a bullish signal if it continues while crowd sentiment stays bearish.
War and geopolitics: President Trump said on Monday that the war in Iran is "militarily effectively over" and that he will hold off on new military strikes for now after meeting Qatar's prime minister, while keeping a naval blockade in the Strait of Hormuz in place. Brent crude has fallen about 6% in two days to around $91.88 a barrel, easing inflation worries, though attacks on shipping around the Strait continue and no lasting deal has been reached. Goldman Sachs has raised its December Brent forecast to $105 a barrel. Binance is also facing fresh pressure from a security incident and an investigation into Iran-linked accounts.
Canada crypto news: The US Treasury's OFAC has sanctioned eight Canadian over-the-counter crypto firms in Ontario and British Columbia — the first time Canadian crypto OTC providers have been targeted — for allegedly converting Iranian rials into cryptocurrency for Iran's regime and the IRGC, and laundering drug money. The action was coordinated with FINTRAC, Canada's financial intelligence unit. Separately, Canada's Budget 2026 proposes extending the Stablecoin Act to bank subsidiaries and foreign institutions: banks would have to issue stablecoins only through non-financial subsidiaries, and stablecoins would not be covered by CDIC deposit insurance. A 60-day consultation on draft stablecoin rules is under way.
What could move the market next: The US October CPI report is due today, Tuesday 10 November, at 8:30 a.m. ET (6:30 p.m. PKT), with headline inflation expected at about 3.6% year on year. A cooler-than-expected reading could ease fears of a December Federal Reserve rate hike; a hot reading could push Bitcoin back toward the $73,708 low. Watch ETF flows, any progress — or setback — in US–Iran talks, and the timeline for Ethereum's delayed Glamsterdam upgrade.
This is market news, not investment advice. Cryptocurrency prices are volatile — always do your own research before making any investment decision.
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