Bitcoin closes below 50-week moving average as long liquidations top $1 billion
Bitcoin ended a seven-week streak above its 50-week moving average with a weekly close at $74,968, though historical analysis from Galaxy Research indicates prior post-bottom breaches never produced new cycle lows.
Bitcoin slipped back below its 50-week moving average for the week ended Nov. 8, 2026, closing at $74,968, roughly 0.7% below the $75,488 benchmark according to Galaxy Research. The downturn ended seven consecutive weekly closes above the trendline following its Sept. 20 reclaim. The technical slip coincided with more than $1 billion in crypto long liquidations over a 24-hour period, with Bitcoin briefly dipping below $74,000 to start the new week.[5][2][6]
The close marked Bitcoin's fifth consecutive red weekly candle, as weekly closes dropped from $86.5K to $74.7K over five weeks. Despite the breakdown, Galaxy's Alex Thorn noted that the last two times Bitcoin slipped below the 50-week average after establishing a bear-market bottom—in 2012 and 2019 to 2020—prices never fell to a new cycle low. Galaxy Research noted that the only reclaim followed by a lower low occurred in 2021 to 2022 before the bear bottom was set. The Nov. 8 close remained 26% above the June 28, 2026 low of $59,517 and 10.7% above the 200-week moving average of $67,746.[3][5][2]
Market commentators presented contrasting interpretations of the loss of support. While independent traders warned that continued weakness below the 50-week average could spark deeper declines toward $60,000, BMTV analyst Sean Hagan characterized the current level as an excellent buying opportunity for investors bullish on Bitcoin as money and technology.[1][4][7]
Key facts
- Bitcoin finished the week ended Nov. 8, 2026, at $74,968, closing 0.7% below its 50-week moving average of $75,488.
- The weekly close ended a streak of seven consecutive weeks above the 50-week moving average following a reclaim on Sept. 20, 2026.
- Crypto long liquidations exceeded $1 billion over a 24-hour span, and Bitcoin briefly dropped below $74,000 to begin the new week.
- Galaxy's Alex Thorn stated that in 2012 and 2019–20, slips back below the 50-week average after a bear bottom never set a new low.
- Bitcoin printed five consecutive red weekly candles, with weekly closes dropping from $86.5K to $74.7K across five weeks.
- The Nov. 8 close was 26% above the June 28, 2026 low of $59,517 and 10.7% above the 200-week moving average of $67,746.
Sources · 7 sources
- BM
Bitcoin Magazine@BitcoinMagazinePost on X ·
NEW: Bitcoin closed below the 50-Week Moving Average, ending a 7 week run of consecutive closes above the average 👀 BMTV Analyst Sean Hagan says "right now is an excellent buying opportunity if you're bullish on Bitcoin as a technology and as money" 👏 https://t.co/sHMUcX8YxV
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Bitcoin bitcoin:native closed below its 50-week moving average after seven consecutive weeks above the level, as crypto long liquidations topped $1 billion in 24 hours. Bitcoin briefly fell below $74,000 to start the new week, while Galaxy's Alex Thorn noted that similar technical breakdowns in prior cycles had not produced new bear market lows.
Open source - CG
Crypto GEMs 📈🚀@cryptogems555Post on X ·
#Bitcoin just printed its 5th red weekly candle in a row 🩸 $86.5K → $74.7K in 5 weeks. And the weekly closed below the 50-week MA for the first time in 2 months. Fakeout or breakdown? 👇 https://t.co/4nH9nqIQ25
Open source - CR
Crypto Rover@cryptoroverPost on X ·
WARNING: 🚨 Bitcoin just closed a weekly candle below the 50W moving average. Prolonged weakness below this level could push Bitcoin lower. https://t.co/rZU1enykyk
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🚨 LATEST: Galaxy’s Alex Thorn says Bitcoin has slipped back below its 50-week average, but the last two times this happened after a bear bottom, prices never set a new low. https://t.co/QCaeH9jXjH
Open source - TB
The BlockArticle ·
Bitcoin loses 50-week moving average as 24-hour crypto long liquidations top $1 billion Bitcoin closed below its 50-week moving average as more than $1 billion in crypto long positions were liquidated.
Open source - MC
Marcos Crypto@MarcosBTCrealPost on X ·
Crypto is crashing. $BTC officially closed below the 50-week MA, wiping out critical support. With Democrats retaking Congress after the midterms, tightened regulatory scrutiny could return at any moment. Dipping below $60k is coming sooner than you think. https://t.co/3vFLEyLGJq
Open source