Analysis: Finance & Crypto — 09 November 2026
Bitcoin falls to $73,761 then rebounds as $1 billion in longs are liquidated
Bitcoin dropped to about $73,761 late Sunday, its lowest print since August, before recovering above $75,000. Ether slipped below $2,100 and then bounced. CoinGlass recorded more than $1 billion in leveraged liquidations over 24 hours, including $913 million in long positions. Crypto was the only major market open over the weekend, so the headlines hit there first.
The sell-off followed two stories. Nvidia chief executive Jensen Huang admitted an affair with a woman U.S. officials believe was spying for China, and Secretary of State Marco Rubio said talks with Iran had stalled. Bitcoin was already weak after Thursday’s 5.5% Nasdaq slide in AI and chip names and Friday’s payrolls beat of 165,000 jobs versus a 65,000 forecast, which lifted December Fed hike odds. U.S. spot bitcoin ETFs had been posting outflows through that tech rout.
The rebound shows weekend forced selling can reverse, but the low sits near the 200-day average and tests support that some traders put around $75,500. Analysis: if U.S. equities open Monday risk-off on the Nvidia story, the bounce may not hold. The open question is whether Huang’s admission is a one-session equity shock or a longer hit to the AI complex that has been dragging bitcoin.
Sources: CoinDesk.
Oil prices fall as Trump says further Iran attacks are highly unlikely
Crude opened the week lower after President Trump told CNN on Sunday that further U.S. attacks on Iran were “highly unlikely” to be necessary, depending on whether Tehran signs “a very strong agreement.” At the time of the OilPrice report, Brent was near $98.28 a barrel and WTI near $91.24, both below last Monday even after a bounce from the Asian open. Later trade showed Brent around $96.50 and WTI around $89.70.
The decline came despite Iran’s Islamic Revolutionary Guard Corps reporting three tankers on fire in the Strait of Hormuz on Sunday and fresh Houthi strikes on Saudi targets. Last week both Brent and WTI lost about 13% after Democrats swept the midterms, as traders priced a faster end to the conflict and recovering Gulf flows. Iraq, which is almost entirely dependent on Hormuz, said it had reached an understanding with the United States to move more crude via a corridor along Oman’s coast after war-related export losses of about $60 billion.
KCM Trade’s Tim Waterer said the market is still waiting to see whether the midterms produced a lasting shift in Trump’s approach or only a change in tone. Analysis: peace talk and a Hormuz bypass for Iraqi barrels pull the war premium out of the curve, but mines and tanker fires keep a floor under dips. The contradiction is that physical risk in the strait has not disappeared even as prices treat de-escalation as the base case.
Sources: OilPrice.com, OilPrice.com.
OCC grants Coinbase a full national trust charter
The Office of the Comptroller of the Currency elevated Coinbase National Trust from conditional status, granted in April, to a full national trust charter, the company said. The entity can offer federally regulated custody and payments. It is not a full-service bank that takes deposits or makes loans. Ripple has already received the same full status.
The rush for federal trust charters accelerated after the GENIUS Act set rules for how such trusts may issue compliant stablecoins. Coinbase said it spent months building vastavusnõuded systems, hiring staff and undergoing OCC review. Vice chairman Ryan VanGrack called the approval another step in putting more of the firm’s business under federal oversight.
The charter lands days after a Democratic sweep that analysts at TD Cowen said makes an industry-backed CLARITY Act unlikely for two years. Analysis: bank-style custody and stablecoin issuance can still advance through the OCC even if Congress stalls on market-structure law. The open question is how a Democratic Congress treats GENIUS implementation and whether investigations of Trump-linked crypto firms spill onto federally chartered trusts.
Sources: CoinDesk.