Bitcoin Falls Below $76,000; $1 Billion Crypto Liquidations Occur

Bitcoin fell below $76,000 on Nov. 5 and was trading near $75,773 the next day, after $430 million left US spot Bitcoin ETFs in a single session, according to Farside data cited by 24/7 Wall St. Every spot fund posted outflows, reversing an inflow the session before. A video discussion on Yahoo Finance said the selloff erased a rebound above $80,000 earlier in the week, with net ETF redemptions of $870 million from Monday through Thursday.

The move came as stocks slid. The Nasdaq Composite fell 5.52% on Thursday, its worst session in 19 months, and the S&P 500 lost 4.36%. Leveraged traders were hit hard: CoinGlass counted $1.05 billion in crypto liquidations over 24 hours, about 88% of them long positions, and Bitcoin dipped to $74,781, its weakest intraday price since Aug. 21, which is why coverage called it an 11-week low.

Decrypt tied the weakness to an AI-stock selloff and to a stronger-than-expected October jobs report that raised expectations of a Federal Reserve rate hike in December, while cautioning that stocks and crypto falling together does not prove one caused the other. Headlines the following day described Bitcoin steadying near $75,882 and Ethereum near $2,240.

What to watch: whether Bitcoin can reclaim $76,000 and hold the $75,000 area, with the $74,781 low and the $73,000 zone as the next supports and $80,000 as resistance. Daily ETF flow data and any further equity volatility may show whether the pressure is easing or building.