Bitcoin Weakens Below Key Averages as Tax-Loss Considerations Emerge
Bitcoin is testing lower technical levels as short-term holders consider year-end tax-loss selling.
Bitcoin is testing lower technical levels as short-term holders consider year-end tax-loss selling. Bitcoin (BTC) is trading at $73,924.00. This is an original TLT brief based on reporting by Crypto Daily, with live market data added, as of Wed, 11 Nov 2026 12:45:02 UTC.
Bitcoin’s weakness below major moving averages and the average cost basis of short-term holders could affect holder sentiment and trading activity. The year-end tax-loss theme adds a potential flow-driven consideration, although the supplied reports do not confirm that selling has occurred.
- Bitcoin trades below its 50-day and 200-day averages
- CryptoQuant places short-term holders’ average cost basis near $75,700
- An 11-week low of $72,670 was reported
- Traders are watching support near $63,000
- Sui slips below key averages as Bitcoin weakness adds pressure
- Bitcoin Weakens Below Key Averages as Tax-Loss Considerations Emerge — this brief
Bitcoin’s decline has put it below its 50-day and 200-day moving averages, according to Crypto Daily. The asset also fell below the estimated average cost basis of short-term holders, a threshold that traders are monitoring as momentum remains weak. Crypto Daily said holders are weighing year-end tax-loss sales, adding a possible flow-related consideration to the technical picture.
Cointelegraph reported that Bitcoin reached an 11-week low of $72,670. The move took the market below the roughly $75,700 average cost basis attributed to short-term holders by CryptoQuant, placing additional emphasis on the price level at which this group last bought.
The two publications broadly agree that Bitcoin is under pressure, but they frame the development differently. Crypto Daily concentrates on the breach of major moving averages, prospective tax-loss selling and support around $63,000. Cointelegraph focuses on the 11-week low and the short-term holder cost basis, citing CryptoQuant. Neither report confirms that holders have begun tax-related selling or that the $63,000 support level has been tested.
These levels provide context for the current decline. Bitcoin remains below both the 50-day and 200-day averages, while the reported $75,700 holder cost basis sits above the latest quoted 11-week low. The market is therefore operating beneath several technical reference points that had been relevant to traders and short-term participants.
Live data show Bitcoin at $73,894, down 0.56% over 24 hours and 5.83% over seven days, with a $1.49 trillion market capitalization. The broader crypto market is flat at a total capitalization of $2.52 trillion, while the Fear & Greed index stands at 29, indicating fear. Attention remains on whether Bitcoin can move back above the cited averages and cost basis, alongside the $63,000 support area highlighted by Crypto Daily and any evidence of year-end tax-loss selling.
Since this brief published about 2 days ago, Bitcoin (BTC) has moved from $73,894.00 to $73,924.00 — +0.04%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Will Bitcoin dip to $65,000 by December 31, 2026?
Crowd-implied probability on Polymarket, $102.42K 24h volume, resolves Jan 1 — snapshotted when this brief published (Nov 11 12:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by TLT and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₦103.20M (about $73,924.00), down 0.2% over 24 hours. The naira itself trades about 3.4% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Bitcoin Weakens Below Key Averages as Tax-Loss Consideration — questions & answers
What technical levels is Bitcoin trading below?
Bitcoin is below its 50-day and 200-day moving averages, according to Crypto Daily. It also slipped below short-term holders’ estimated average cost basis of about $75,700.
What is the latest reported low for Bitcoin?
Cointelegraph reported an 11-week low of $72,670. The supplied live price was $73,894.
Are holders already selling Bitcoin for tax losses?
The reports say holders are weighing year-end tax-loss sales. They do not confirm that such selling has occurred.
What support level is being watched?
Crypto Daily identifies support near $63,000 as the level traders are watching. The supplied coverage does not say that Bitcoin has tested it.
How much is 1 Bitcoin worth in naira today?
About ₦103.20M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $73,924.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Crypto Daily. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.