Bitcoin and ether fell to their lowest levels in more than two months during late Sunday trading, extending a volatile stretch for digital assets after the U.S. midterm elections and a major exchange-security shock. Reuters observed bitcoin at $73,708, down more than 2%, while ether fell about 5% to $2,223. Both levels were the lowest reported since August. The move occurred in continuous global trading, where prices can differ across venues and change within seconds. Weekend order books can also be thinner than weekday markets, allowing a smaller flow of orders to produce a larger short-term move without establishing a lasting trend.

The low depends on the market feed

The $73,708 bitcoin figure was a Reuters market observation rather than a universal closing price. Coinbase's public conversion data showed bitcoin near $74,170 at 22:36 UTC on November 8 and listed a 24-hour low of $73,510.83. A Coinbase-linked historical table separately recorded a November 8 low of $73,708.60. These figures are not contradictory: crypto exchanges operate separate order books, and each data service can use a different venue, aggregation method and observation time.

Related reporting: Diwali Crypto Market: Bitcoin Near $76,100 After Friday’s Slide

That distinction matters when a fast market crosses a round-number threshold. A price printed on one venue may not appear on another, and an intraday low does not mean every holder could trade at that level. It also does not establish a daily settlement comparable with a regulated futures close. The reliable conclusion is narrower: bitcoin and ether both moved sharply lower during the late-Sunday session, with multiple feeds placing bitcoin near the mid-$73,000 to low-$74,000 range.

A difficult week for risk assets

The decline followed several days of pressure across crypto and technology markets. CoinDesk reported on November 6 that bitcoin had already tested roughly $75,200 after a technology-led selloff, while more than $1 billion in leveraged crypto positions were liquidated over 24 hours. U.S. spot bitcoin exchange-traded funds also recorded substantial outflows during the week. Those developments indicate weak positioning and forced risk reduction, but they do not establish a single cause for Sunday's later move.

Reuters identified two additional concerns in the market backdrop: expectations that a Democratic-controlled U.S. Congress could pursue tougher crypto oversight, and the continuing effects of the recent multibillion-dollar Binance theft. Both are material risks for the sector. Still, market prices do not reveal investor intent, and the timing of a selloff cannot by itself prove that either political expectations or the security incident caused every trade.

Who is affected

The immediate impact is broadest for leveraged traders, whose positions can be closed automatically when collateral falls below exchange requirements. Spot holders face mark-to-market losses but are not automatically liquidated merely because prices decline. Crypto-related public companies, funds and treasury vehicles may also experience wider price swings when digital assets fall outside traditional market hours, before U.S. equity trading resumes.

What to watch next

The next test is whether prices stabilize as Asian and then European liquidity deepens, or whether the Sunday decline carries into U.S. trading. Attention will also turn to upcoming U.S. inflation data, fund flows and any concrete congressional or regulatory proposals. A two-month low describes where the market traded, not where it must go next. Venue differences, thin weekend liquidity and rapid repricing make short-term levels especially uncertain.

Sources

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