Bitcoin traded near $75,570 on Friday, November 6, 2026, after falling to $74,780.91—its lowest intraday price since August 21, 77 days earlier, according to Decrypt. The decline came alongside a sharp technology-stock selloff and substantial forced closures of bullish crypto positions.
Long positions dominate liquidations
CoinGlass data cited in the report showed approximately $1.05 billion in crypto liquidations over the preceding 24 hours. Long positions accounted for $930.04 million, or 88.2%, compared with $124.69 million in short positions.
Bitcoin accounted for $267.20 million of the total, with longs representing 88.9%. Ethereum liquidations reached $167.14 million, 81.1% of them long positions.
Liquidations occur when an exchange closes a leveraged position because its collateral is insufficient. Forced closures can add selling pressure during an existing decline, although they do not establish what initially caused it.
The Fear and Greed Index stood at 28 out of 100, approaching extreme fear, compared with a neutral reading a week earlier, before the U.S. midterm elections.
Equity losses and rate expectations frame the retreat
On Thursday, November 5, the Nasdaq Composite fell 5.52%, its worst session in 19 months. The Philadelphia semiconductor index dropped more than 12%, while Nvidia lost over 9%. The S&P 500 declined 4.36%, erasing roughly $3 trillion in constituent market value.
Decrypt reported that Democratic victories in Tuesday’s midterm elections had raised concerns about tougher AI regulation potentially slowing data-center construction. Bitcoin had already surrendered its post-election relief rally as chipmakers fell. Still, the report cautioned that simultaneous declines did not establish that the equity selloff alone caused Bitcoin’s losses.
A stronger-than-expected U.S. October jobs report also increased expectations of another Federal Reserve rate hike in December. Higher borrowing costs could weigh on speculative markets even if chip stocks recovered.
Chart levels were conditional, not confirmed outcomes
At the reporting snapshot, Bitcoin’s weekly chart showed another declining candle and lower highs since September, when it briefly traded above $87,000.
The 50-day exponential moving average stood near $79,756, above the 200-day average around $76,497. Although that ordering remained a longer-term bullish signal, Bitcoin was trading below both averages.
The Relative Strength Index read 37.7—below neutral but above the conventional oversold threshold of 30. The Average Directional Index was 19.7, suggesting weak trend strength, while its directional indicators favored bearish pressure.
Decrypt’s chart analysis identified approximately $74,780 as immediate support. A daily close below that level would shift attention toward $73,000–$72,500 around August’s breakout, and then $70,000 if that area failed. On a recovery, the report identified resistance near $76,497, followed by roughly $80,000.
Friday’s daily candle was still open when the article was written, so those levels described conditional scenarios rather than confirmed closing-price signals.
Original source: Decrypt. Published November 7, 2026, at 00:34:07 UTC+08:00 (November 6 at 16:34:07 UTC). This is a historical reporting snapshot, not a current market update.
