Bitcoin tests 200-day average as inflation data weighs on price
Bitcoin traded near $73,000 on November 10, 2026, hitting its lowest level since August after a strong CPI print. Analyst Tim Warren views the drop as a manipulative correction rather than a trend reversal.
Bitcoin tested its 200-day moving average on November 10, 2026, trading near $73,000 following a hot CPI inflation print. The asset reached its lowest level since August 20, 2026, while the Fear and Greed Index registered extreme fear for the first time since that month. Despite the sentiment shift, prices remained 17% higher than during the previous extreme fear period.
Analyst Tim Warren characterized the decline as a healthy correction driven by the 'composite man' theory, a concept based on Richard Wyckoff's work suggesting large entities manipulate retail sentiment to accumulate assets. Warren argued that current retail depression serves as a bullish signal indicating institutional accumulation. He maintained a 90% probability that Bitcoin would not drop below the bear market low of $57,700, which he said was established in July 2026.
Warren identified fair value gaps at $72,900, $71,600, and $68,400 as key support levels. He noted that if the $68,500 level is lost, his confidence in the bottom holding would drop to 50%. Warren stated, "I'm still sitting at 90% probability that we do not go below 57.7."