Bitcoin struggles near $75,000 as ETF withdrawals deepen crypto market losses

Bitcoin remained under pressure on Monday, November 9, after briefly falling below $74,000, as heavy institutional withdrawals and uncertainty over US cryptocurrency regulation overshadowed a recovery in global equity markets.

Ethereum and other major cryptocurrencies suffered steeper losses, extending last week's decline despite improving sentiment toward technology stocks.

Price overview

During Monday's trading, Bitcoin recovered toward $75,000 after touching an intraday low near $73,470.

Ethereum traded near $2,135, down approximately 4.8%, while Solana traded around $87 and XRP near $1.10.

Bitcoin remained roughly 7% below Wednesday's high above $81,000.

ETF withdrawals weigh on sentiment

US spot Bitcoin exchange-traded funds recorded approximately $1.28 billion in net withdrawals last week, their largest weekly outflow since June.

The withdrawals marked a second consecutive week of institutional selling, raising questions about the durability of demand following October's decline.

Regulatory uncertainty adds pressure

Democratic control of Congress has increased uncertainty surrounding cryptocurrency legislation, particularly proposals governing exchanges, stablecoins and leveraged trading.

Investors are also assessing the prospect of tighter congressional oversight of the industry.

Altcoins suffer heavier losses

Ethereum's decline outpaced Bitcoin's, while XRP and Solana remained under pressure as traders reduced exposure to smaller cryptocurrencies.

The broader retreat contrasted with Monday's recovery in technology shares, suggesting that cryptocurrency-specific concerns continued to dominate trading.

US inflation data in focus

Tuesday's US consumer price index report could influence expectations for another Federal Reserve interest rate increase in December.

Higher borrowing costs would present another challenge for speculative assets already facing institutional selling.

Market outlook

Bitcoin faces immediate support around $73,500, followed by its 200-day moving average near $73,170.

Resistance stands around $75,500, with a stronger barrier near $77,000.

A sustained recovery may depend on renewed ETF inflows and improving regulatory sentiment.