Bitcoin hits lowest since August at $73,761 as over $1 billion in leveraged bets get wiped
A weekend sell-off on the Nvidia probe and stalled U.S.-Iran talks liquidated more than $1 billion, after spot Bitcoin ETFs bled $1.28 billion in five sessions.
TL;DR
- Bitcoin fell to about $73,761 late on Nov. 8, 2026, its lowest level since August, before rebounding above $75,000, CoinDesk reported.
- More than $1 billion in leveraged crypto positions were liquidated in 24 hours, including $913 million in longs; ether saw $448 million versus $272 million for bitcoin (CoinGlass via CoinDesk).
- U.S. spot Bitcoin ETFs recorded nearly $1.28 billion in net outflows from Nov. 2 to Nov. 6, 2026, with BlackRock's IBIT accounting for about $1.21 billion (Farside via crypto.news).
- Traders now await the October U.S. CPI report scheduled for Nov. 10, 2026 at 8:30 a.m. ET, crypto.news noted.
Crypto was the only market open over the weekend, and it took the hit first. Bitcoin fell to about $73,761 late on Nov. 8, 2026, its lowest point since August, before bouncing back above $75,000, CoinDesk reported. Ether dropped below $2,100 before recovering.
$1 billion in forced selling
More than $1 billion in leveraged positions were liquidated in 24 hours, according to CoinGlass data cited by CoinDesk. Longs accounted for $913 million of that total. Ether took the bigger hit: $448 million in liquidations, nearly double bitcoin's $272 million. The single largest liquidation order was a $48 million ETH position.
Two headlines, one risk-off
CoinDesk tied the volatility to two developments: Nvidia's board opening an independent investigation after reports that its CEO was the target of a foreign intelligence effort, and U.S. Secretary of State Marco Rubio saying negotiations with Iran had stalled. NVDAX, a tokenized version of Nvidia stock on xStock, dropped 3.55% to $180.42 over 24 hours, versus Friday's Nasdaq close of $186.64 for the underlying shares, CoinDesk said.
ETF bleed sets the backdrop
U.S. spot Bitcoin ETFs recorded nearly $1.28 billion in net outflows between Nov. 2 and Nov. 6, 2026, according to Farside Investors data cited by crypto.news. BlackRock's IBIT accounted for roughly $1.21 billion of withdrawals. Friday, Nov. 6, alone brought $411.9 million in net outflows, with IBIT losing $403 million while Fidelity's FBTC took in $42.8 million. Thursday, Nov. 5, saw $430.2 million out after a brief $74.6 million inflow on Wednesday, Nov. 4.
On the chart, CoinDesk places BTC between the 200-day average near $73,150 and the 100-day average near $77,430. The next macro test is the October U.S. CPI report, scheduled for Nov. 10, 2026 at 8:30 a.m. ET, crypto.news noted.
What it means for Web3 teams – Analysis
Weekend crypto is now the market's shock absorber for equity and geopolitical headlines. When ETF demand turns into a five-day outflow, leverage becomes the marginal seller, and ether-heavy books get hit hardest. Teams with token treasuries or launch dates should plan liquidity around macro prints like CPI, not around narrative. Not investment advice.
FAQ
How low did bitcoin fall on Nov. 8, 2026?
Bitcoin fell to about $73,761 late on Nov. 8, 2026, its lowest level since August, before rebounding above $75,000, according to CoinDesk.
How much was liquidated?
More than $1 billion in 24 hours, including $913 million in long positions, according to CoinGlass data cited by CoinDesk.
How large were Bitcoin ETF outflows?
Nearly $1.28 billion net from Nov. 2 to Nov. 6, 2026, with IBIT accounting for about $1.21 billion, according to Farside data cited by crypto.news.
What macro data is next?
The October U.S. CPI report, scheduled for Nov. 10, 2026 at 8:30 a.m. ET, crypto.news reported.
Sources
News summary based on the sources above. Not investment, legal or tax advice. Editorial policy & corrections · Report an error
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