Crypto Lags the Equity Rebound, but the Divergence Is Not Inherently Bearish

In this video on bitcoin price outlook, Sean Farrell examines why major cryptocurrencies did not mirror the broad rebound in U.S. equities on November 9, 2026, with particular attention to the performance gap between Bitcoin (BTC), large-cap tech stocks, Invesco QQQ Trust (QQQ), and the S&P 500 Index. He discusses how equity positioning, short covering in crowded tech names, and recent cross-asset volatility shaped the day’s trading, and he reviews moves in key risk gauges such as the Cboe Volatility Index (VIX) and the ICE BofA MOVE Index.

Farrell also analyzes historical episodes since 2014 when the S&P 500 posted strong gains while BTC lagged, focusing on how Bitcoin’s position relative to its 200-day moving average conditioned subsequent returns. He highlights the technical significance of longer-term moving averages for BTC, and outlines how upcoming macro catalysts—including the November 2026 CPI inflation report, crude oil prices, geopolitical developments, and the performance of the AI equity complex—feed into the broader monetary policy and liquidity backdrop for crypto. The full video and report include his detailed charts, data, and interpretation of what this latest equity–crypto divergence may signal for digital assets.

Finish reading this report for free

Enter your email and we'll send the paywall-free report directly to your inbox

Articles Read: 1/2

By continuing, you agree to the Terms of Service and Privacy Policy.

In addition to your unlocked report, you will receive our weekly market newsletter Fundstrat Snapshot, as well as occasional updates and offers from Fundstrat Direct. You can unsubscribe at any time.

Get unlimited access to Tom Lee's Fundstrat research Subscribe
Already a member? Log in

Events

Trending crypto assets in our research