Bitcoin falls below $74,000 on the week's last day, CoinNess reports

Bitcoin fell below $74,000 late on November 8, the last day of the November 2-8 window, according to CoinNess. Its market-monitoring feed put the price at $73,730.33 on Binance's USDT market within minutes of the drop. The outcome has not formally resolved.

The feed also reported $685 million in futures liquidations across major exchanges in the preceding hour. That report is the likely reason for the sudden change in bets. Earlier coverage of this story could not explain it.

Bets on a dip to $74,000 swung hard over the week. When tracking began on November 4, with Bitcoin above $81,000, a dip was a long shot. The next day a selloff in technology stocks spread to crypto, and bets surged until the outcome briefly looked likely. They fell back on November 6 and a dip was unlikely by November 7. It stayed unlikely for most of November 8, with Bitcoin trading near $76,000. Then, within a single hour late that day, bets jumped to certain.

The drop followed a sharp slide from the post-election highs. Bitcoin rose above $81,000 after the November 3 US midterms, then fell with the tech selloff. On November 6, Decrypt reported an intraday low of $74,780.91 and about $1.05 billion in crypto liquidations over the preceding 24 hours. That brought Bitcoin close to the $74,000 level but not below it. A Bitstamp-based historical series puts the November 6 low at $74,761.63.

The Binance reading is the first record in the supplied material to show Bitcoin below $74,000 in the window. It comes from one exchange, though, and the question does not say which price source decides the outcome. It also does not say whether a touch, a close or a high counts, or which time zone applies.

What comes next depends on how the question is judged. The window ends with November 8, so the final ruling will turn on the price record that is used. Those details have not been spelled out.