- Ben Cowen sees 2018 echoes as Nasdaq losses exceed 10%, and the S&P 500 drops about 4%.
- Bitcoin fell below $83K before trading near $77K, as $73K–$75K acts as key support.
- AI spending fears weighed on markets, while the Iran conflict disrupted energy supplies.
Analyst Ben Cowen sees a fourth-quarter stock decline developing after temporary rebounds, echoing the 2018 correction. The warning matters for Bitcoin as BTC weakened during previous midterm-year quarters. His price analysis describes historical parallels, not confirmed outcomes; no Binance figures accompany the comparison.
Ben Cowen’s 2018-Style Selloff Warning Raises Bitcoin Risks
In his November 2 video, Ben Cowen reported Nasdaq losses exceeding 10%, compared with roughly 4% for the S&P 500. The Russell 2000 lost 11%–12% and the Dow around 7%, spreading weakness beyond technology.
Cowen compared 2026 with 2014, 2018, and 2022. In 2018, short recoveries interrupted a broader decline before fresh selling emerged late in the year. His price analysis treats rebounds as inconclusive.
Meanwhile, the S&P 500 closed November 2 at 7,541.40, above its 200-day moving average near 7,300. Ben Cowen identified that average as a possible test. However, neither Binance trading activity nor Binance exchange flows were presented to connect those equity levels directly with BTC demand.
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Bitcoin’s Midterm-Year Pattern Puts $73K–$75K Support in Focus
Ben Cowen also linked the equity pattern to Bitcoin’s previous midterm-year weakness. BTC recorded lows in February and July 2026, following a sequence he discussed in October. Another late-year low remains possible but unconfirmed.
His price analysis also referenced 2018 and 2022, when BTC weakened around seven weeks after September interest-rate increases. Similarly, Bitcoin broke below $83,000 in October and subsequently traded near $77,100.
Against this backdrop, Cowen pointed to $73,000–$75,000 as a key support zone for Bitcoin. A weekly close above $83,000, however, would weaken his bearish outlook. This price analysis sets conditional thresholds rather than predicting a repeat. Binance deposit and withdrawal figures were also unavailable, leaving exchange activity out of the comparison.
Growth Fears and Iran Conflict Complicate Bitcoin’s Outlook
A deeper decline in the Nasdaq or S&P 500 could also pressure Bitcoin as investors reduce exposure to riskier assets. However, the extent to which exchange activity contributes to Bitcoin’s price movements remains unclear.
Meanwhile, concerns over debt-financed artificial intelligence spending and slowing economic growth have weighed on market sentiment. The Iran conflict has added uncertainty by disrupting energy markets, although hopes for peace talks helped ease oil prices on November 2.
For Ben Cowen, the combined picture supports caution rather than certainty. His price analysis tracks stock resilience, interest-rate pressure, and BTC support levels. Yet Binance positioning cannot confirm whether selling is imminent, and the price analysis alone cannot establish that Bitcoin must follow stocks.
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Related: Bitcoin Price Analysis: Bullish BTC Shift Eyes $81,971 Ahead of U.S. Midterms
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