Bitcoin held above $75,000 on Nov. 6, 2026, as a sharp decline in US technology stocks spread to Asian markets. Cointelegraph reported that BTC had fallen as much as 6.6% on the preceding Thursday, reaching $75,109 on Bitstamp, before stabilizing on Friday.
TradingView data cited in the report showed BTC/USD trading near its 50-week simple moving average, which stood at $75,733. The stabilization came amid broader market stress: South Korea briefly halted stock trading, while analysts linked the US sell-off to concerns over artificial intelligence regulation following Democratic election gains.
South Korea moves to limit forced selling
The S&P 500 and Nasdaq Composite closed Thursday down 4.4% and 5.5%, respectively, after sustained selling during the Wall Street session.
South Korea’s KOSPI Composite Index then dropped more than 8% shortly after Friday’s open, triggering a 20-minute circuit-breaker halt. It recovered some ground but still closed 6% lower at 5,059.69 points, its lowest close since March 31.
At an emergency meeting, Deputy Prime Minister and Finance Minister Lee Hyoung-il announced measures intended to reduce forced selling. According to local media reports cited by Cointelegraph, brokerages would be exempt from the requirement to maintain a 140% collateral ratio on margin loans for three months beginning the following Monday. Authorities said they would prepare additional measures if volatility increased.
Chosun quoted an unnamed government source acknowledging increased global stock-market volatility following the US midterm elections, while arguing that South Korea’s market had been overly reactive to external factors.
AI regulation concerns meet an already uneasy tech sector
Analysts linked Thursday’s US losses to fears of tighter AI regulation after Democrats won the House and Senate. Those concerns added to existing unease about the sector’s capital spending.
Market commentary service The Kobeissi Letter pointed to Democratic Rep. Yassamin Ansari’s call on X for a “pause on advanced AI development,” but argued that an outright US ban on AI was highly unlikely. In its assessment, such a ban would surrender the country’s position in the global AI race to China.
“We believe today’s decline was more technical than fundamental,” Kobeissi wrote in its Thursday commentary.
The service noted that the S&P 500’s decline was about 2.5% when technology stocks were excluded. The Philadelphia Semiconductor Index, which tracks 30 semiconductor companies, finished Thursday down 12.2%.
Economist Mohamed El-Erian separately urged lawmakers to find common ground on AI policy. In a Substack note, he argued that America’s “let it rip” approach aligned with AI’s productivity potential and national-security imperatives, but had fallen short on safety, diffusion and bringing society along. He attributed the backlash to genuine concerns, information failures and behavioral factors.
Bitcoin’s stabilization does not establish independence from stocks
Cointelegraph reported that Bitcoin’s correlation with the S&P 500 had become more positive in recent months. Its ability to hold above $75,000 during this episode therefore sits alongside evidence of a closer recent relationship with equities, rather than establishing a lasting separation from them.
The report also noted Cointelegraph’s earlier finding that Democratic midterm sweeps under Republican presidents had historically been followed by strong stock returns. That historical observation was not a Bitcoin price forecast.
Original source: Cointelegraph. Original publication time: Nov. 6, 2026, at 19:16:53 UTC+08:00. This rewrite preserves the historical reporting context.
