Bitcoin (BTC) Tests $76,000 Resistance After AI Regulation Selloff

Bitcoin (BTC) price finished the week pinned to the 12 million yen line, about $75,900 at current exchange rates, after a selloff in United States technology stocks dragged the market lower for a second time in five sessions. A weekly chart review by Yuya Hasegawa, a market analyst at the Japanese exchange bitbank, published early on Sunday, traces the path. The pair opened the week still digesting the unauthorized outflow incident at Binance and tested 12.5 million yen, only to stall as traders weighed the risk of a US strike on Iran after the midterm elections. A slow drift lower carried it back toward 12 million yen, where it steadied on November 3 and climbed back to about 12.4 million yen as US equity futures bounced. The midterm count then broke the calm. As returns showed Democrats running further ahead than expected, US stock futures fell sharply on concern that oversight of AI and data-center construction would tighten, and Bitcoin (BTC) was pulled below 12 million yen for a time. Risk appetite returned almost as fast once the party's projected seats left it short of the two-thirds majorities needed in both chambers to override a presidential veto. The report records a rebound to roughly 12.5 million yen, then a touch of 12.8 million yen: oil slid on expectations Congress would restrain the administration's hard line toward Iran, and Trump conceded the result while signaling openness to working with Democrats. The reprieve lasted one session. On November 5, US tech stocks sold off, led by AI names. Market reactions to the latest earnings from Arm and Qualcomm were weak, Qualcomm's forward guidance drew selling, and social media carried repeated calls from Democratic lawmakers for AI regulation and a ban on artificial superintelligence, a hypothetical AI beyond human capability. Unwinding accelerated across semiconductor and AI-infrastructure shares, and Bitcoin followed the sector back down to 12 million yen. It now sits barely above that line, the recovery sluggish and the range narrow.

The market sits between two firm lines. COINOTAG's composite scoring of support and resistance levels puts the strongest support beneath the spot quote of $75,882 at $75,162, scored 99 out of 100, and the nearest resistance at $76,335 with a 73/100 score. Positioning under the surface is quiet: the perpetual funding rate runs at 0.0070%, so leverage costs long holders almost nothing, while the long/short account ratio stands at 3.31, with 76.8% of accounts long. The composite still reads the broader trend as a downtrend, with an RSI of 38. A daily close below $75,162 would move price into the next lower band; a push through $76,335 would clear the first barrier above the market and give the rebound its first real test.

CPI, PPI and AI Earnings Ahead

Hasegawa expects the market to stay tethered to US tech next week. He judges a sweeping federal clampdown unlikely in short order, since the Democrats' seat count falls short of veto-proof majorities, and he watches instead how far the specific debate over AI and data-center rules spreads. Without fresh negative headlines, he argues, the political risk built up this week should be gradually digested. Earnings add their own test. Results from Palantir, AMD and Arm this week pointed to durable AI and data-center demand yet failed to improve the sector's tone, and reports from CoreWeave, Nebius and Applied Materials are due next. He reads confirmed demand as the likeliest trigger for the tech selling to settle. The macro calendar carries its own weight: October CPI lands on November 10 and PPI on November 13. A December rate hike is largely priced in, but the path beyond it is not settled, and an upside surprise would strengthen expectations of further hikes next year and weigh on Bitcoin (BTC) through higher US yields. He treats the midterm outcome as medium-term inflation support, since a Congress that restrains the administration toward Iran could hold oil lower, though he calls that a slow-moving influence. Technically, the report notes Bitcoin lost the 100-day moving average that had underpinned the market, even as its decline stayed shallow against the depth of the tech selloff. If that line is not reclaimed soon, he flags downside toward the 200-day moving average near 11.6 million yen, then the psychological $70,000 mark. Flows have offered little cushion: spot ETF holdings logged a second straight weekly outflow of $1.28 billion last week, the worst since June. On-chain cost-basis tracking shows short-term holders have flipped from $49 billion in profit to a $162 million loss. The top cohort of whale traders on perp DEXs still holds $2.37 billion in shorts. For the wider Bitcoin market, the working margin is thin: roughly $720, under one percent, separates the last quote from the strongest support line.