Wintermute says Bitcoin weekly close breaks below 50-week moving average, watching 68000 USD

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Wintermute says Bitcoin weekly close breaks below 50-week moving average, 68000 USD is the next observation level, returning to 80000 USD will change its cautious view.

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Wintermute: Bitcoin weekly close below the 50-week moving average, next observation level at 68000 USD

BlockBeats news, November 9, according to Wintermute's latest market review, the S&P 500 index fell 4.4% last Thursday, marking its largest single-day drop since April 2025. Wintermute stated that after Democrats secured both chambers of Congress in the US midterm elections, the market repriced regulatory risks for the artificial intelligence sector, and the crypto market weakened alongside risk assets, with Bitcoin falling below 75000 USD. Spot Bitcoin ETFs saw a net outflow of 1280000000 USD for the week, the largest scale since June this year, sufficient to wipe out year-to-date net inflows. The non-farm payrolls released on Friday recorded 165000 jobs, higher than the market expectation of approximately 60000, pushing the probability of a December rate hike from about 67% one week ago to about 77%.

Wintermute noted that Bitcoin rose to 81000 USD on Wednesday but gave back all gains by Friday; it hit a low of approximately 73500 USD on Sunday, slightly above the 200-day moving average of about 73000 USD. The weekly close landed just below the 50-week moving average at 75500 USD, ending a streak of 7 consecutive weeks above that average. Entering Monday, over 1000000000 USD in positions were liquidated, with Ethereum liquidations exceeding those of Bitcoin, and nearly all liquidations on the Bitcoin side being long liquidations. Altcoins fell more sharply, with NEAR, HYPE, ENA, and LIT dropping double digits, while Bitcoin declined by about 4% over the same period, and ZEC was among the few large-cap tokens to rise.

Wintermute stated that it remains cautious while Bitcoin is below the 50-week moving average, with the next observation level at 68000 USD, and reclaiming 80000 USD would change this view. The firm said that if the daily close falls below 73000 USD and the 200-day moving average, it could open up room pointing toward 68000 USD; if the daily close holds above 80000 USD and spot Bitcoin ETFs record a net inflow week, its stance will turn positive. Wintermute pointed out that the October CPI released on Tuesday is the first recent test, with core CPI expected to grow 0.2% month-over-month; the Federal Reserve will meet on December 8 to 9, with the current probability of a rate hike at approximately 77%.

Original link https://m.theblockbeats.info/flash/376381

Key points

Wintermute indicated that Bitcoin's weekly close is below the 50-week moving average at 75500 USD.
The text states that Bitcoin touched a low of approximately 73500 USD on Sunday, slightly above the 200-day moving average at approximately 73000 USD.
Entering Monday, over 1000000000 USD in positions were liquidated, with Ethereum liquidation volume exceeding Bitcoin's, and nearly all Bitcoin-side liquidations being long positions.
The text states that spot Bitcoin ETFs had a single-week net outflow of 1280000000 USD.
Wintermute listed 68000 USD as the next observation level and stated that reclaiming 80000 USD would change its cautious view.
Wintermute stated that if daily closes settle below 73000 USD and the 200-day moving average, it may open space pointing toward 68000 USD.
Wintermute stated that if daily closes stabilize above 80000 USD and spot Bitcoin ETFs record a week of net inflows, its attitude will turn positive.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

A moving average is a reference line formed by averaging prices over a period of time. Wintermute believes that Bitcoin's weekly close below the 50-week moving average indicates that current trends require cautious observation. 68000 USD is an observation level proposed by the firm, not a confirmed price prediction; the 200-day moving average near 73000 USD and 80000 USD are other key observation levels given in the text.

Why it matters to readers

The text simultaneously mentions breaking below long-term moving averages, large-scale position liquidations, and single-week net outflows from spot Bitcoin ETFs, reflecting recent market pressure. Whether the price can hold around 73000 USD, re-establish itself above 80000 USD, and whether ETF funds turn to net inflows are the conditions for Wintermute's judgment on whether its attitude changes.

Beginners should understand these price levels as market observation indicators, not guarantees for buying or selling. Leveraged positions may be forcibly liquidated during rapid declines, so attention must be paid to volatility and position risk.

Risks and unknowns

The report relays Wintermute's market review without attaching original sources for related market quotes, ETF flows, liquidations, and macroeconomic data.
68000 USD is merely Wintermute's observation level; whether the price will reach it cannot be confirmed.
Whether the conditions of 73000 USD and 80000 USD proposed in the text will trigger, and the subsequent market performance after triggering, cannot be confirmed.

Wintermute says Bitcoin weekly close breaks below 50-week moving average, watching 68000 USD

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