Crypto · Market move

Bitcoin falls below $76,000 to a seven-week low as a Nasdaq AI selloff and more than $1 billion in liquidations erase the post-midterm rebound

By VoxTradePro Desk · Published 6 Nov 2026, 08:05 UTC+8 · 4 min read

BTC slipped under $76,000 on 5 November as tech equities sold off and crypto longs were liquidated. We cover the move, flows and what to watch next.

Bitcoin gave back Wednesday's post-midterm bounce on Thursday 5 November, sliding under $76,000 and marking a seven-week low as a sharp selloff in US technology and AI equities spilled into crypto. Quartz, citing Bloomberg, said BTC dropped as much as 5.8%. The Block put bitcoin around $75,700 after an intraday low near $75,568, while FXStreet and CoinDesk both described prices just below $76,000 with losses of more than 5% over 24 hours.

Our CoinGecko-based feed early Friday 6 November Macau time showed bitcoin near $76,126, down about 5.39% over 24 hours, with a session range of roughly $75,230 to $80,828. Ethereum tracked the same risk tape: The Block had ETH more than 7% lower near $2,247; CoinDesk cited about 7.5%; our feed showed roughly $2,239.56 (−7.43%). Live quotes stay on the Bitcoin and Ethereum pages.

Equities led, crypto followed

The move was tightly linked to US equity risk. Quartz/Bloomberg put the Nasdaq 100 down 6.4% in a chip-led session. CoinDesk said the Nasdaq Composite fell 5.5%, the S&P 500 4.3% and the Dow 3.4%, calling it the worst US equity session since the April 2025 tariff shock, with the Nasdaq 100's poorest day since March 2020. FXStreet flagged the Semiconductor Index (SOX) down about 10%, with Nvidia, AMD and Qualcomm among the leaders lower. The Block, as of about 2 p.m. ET, had the Dow and S&P near −3%, the Nasdaq Composite near −4.7%, and the VIX up about 60%.

K33's Vetle Lunde, quoted by Quartz via Bloomberg, described a "huge correlated move" as markets digested a Democratic midterm sweep. JonesTrading's Michael O'Rourke framed bitcoin as part of broader de-risking and said the Wednesday rebound "never should have" stuck. Wintermute's Jasper De Maere told The Block that relief after the Binance hack, election enthusiasm, AI-spending nerves and softer oil all faded quickly against still-elevated inflation and geopolitical risk.

Liquidations amplified the drop

Forced selling in derivatives magnified the spot move. The Block, citing CoinGlass, said about $879.92 million was liquidated in four hours ($818.90 million longs / $61.02 million shorts), with nearly $1.1 billion over 24 hours across roughly 211,000 traders. FXStreet put 24-hour liquidations near $1.08 billion, driven by about $953 million in long liquidations, and said ETH, XRP and Solana each fell more than 6% while crypto market capitalisation slipped about 4.5% to $2.71 trillion. Our global snapshot early Friday showed market-cap change near −7.8% over 24 hours and bitcoin dominance around 59.3%—context for bitcoin dominance.

Yahoo Finance said the global crypto market value fell about 5%, erasing roughly $370 billion, with Coinbase, Robinhood, Strategy and Bullish each down 9% or more. The Block also flagged mining and AI-linked names such as Bitdeer near −20%.

Flows and positioning already soft

Crypto entered the session with thin conviction. Quartz/Bloomberg said investors withdrew a net $1 billion from spot bitcoin ETFs between the Binance hack and Wednesday, with BlackRock's IBIT accounting for about $900 million. Glassnode analysts, also via Bloomberg, said most coins held by short-term holders (bought in the prior 155 days) were sitting at a loss after nearly all had been in profit a month earlier. That is positioning context, not a forecast.

Wednesday's rebound above $80,000—covered in our midterm notes—reversed as those temporary supports faded. Wintermute told The Block it would want a convincing reclaim and hold of $80,000 before turning more constructive, and flagged $73,000 and $68,000 as levels to watch if weakness persists.

Policy overhang remains secondary to liquidity

A Democratic Congress may slow crypto market-structure bills such as the Clarity Act, analysts told The Block, but day-to-day prices still lean more on liquidity, rates and risk appetite. FXStreet also flagged political talk of stricter AI rules—another reason tech and crypto sold together. Gold held up: CoinDesk put the metal about 0.6% higher near $4,094.

What to watch

$76,000 / $80,000: whether bitcoin stabilises above the seven-week low or fails to reclaim Wednesday's rebound zone.
US employment report, Friday 6 November (08:30 ET / 21:30 Macau): the main near-term macro print for risk assets; see the economic calendar.
Spot bitcoin ETF flows and IBIT: whether the post-hack outflow run cools.
Futures liquidations and funding: whether long flushes are largely done or leverage rebuilds into soft spot demand.
Nasdaq / AI equity follow-through: crypto's correlation with chip and AI names stayed high on Thursday.

Large liquidation days can move bitcoin several percent in either direction. For market structure and custody basics, see crypto market basics and Is crypto safe on an exchange?. Size any practice or live risk with risk management basics, the liquidation price calculator, the position size calculator and paper trading.

Sources

Not financial advice. This article is for general information and education only. It is not a recommendation to buy, sell or hold any asset. Prices move quickly and figures quoted may already be out of date; markets involve risk, including the loss of capital. See our disclaimer.

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