Bitcoin was trading at $76,050 at 10:21 a.m. on Friday, November 6, 2026, down 5.2% over 24 hours according to CoinGecko, after a Thursday sell-off in US tech stocks dragged it below $80,000. US spot Bitcoin ETFs lost $430.2 million in a single session. The level that matters now is $75,000.
The damage was done on Thursday, November 5. The price slid from just above $80,000 to around $76,000 that afternoon, with the steepest leg coming within a couple of hours of the Wall Street open. It has moved sideways since, trading on November 6 between $75,244 and $76,282.
That is the lowest level since mid-September. One afternoon erased the entire recovery above $80,000 that followed the November 3, 2026 midterm vote.
The contagion comes from the Nasdaq
US equities started it. The Nasdaq Composite closed Thursday at 24,315 points, down 5.52%, the tech index’s worst session since April 2025. Nvidia fell more than 9%. Investors fear that Democratic gains in the midterms will slow the buildout of AI data centers (the theme is covered in Why Nvidia stock is falling). Bitcoin tracked the index almost step for step.
Sentiment was not the only channel. Crypto-linked companies from Coinbase to Strategy closed sharply lower, and several miners lost more than 10%. Many have pivoted in recent months toward data centers for artificial intelligence, Bitcoin Magazine notes, which leaves them exposed to the same political risk. The change in congressional control opens other fronts for crypto investors too, starting with regulation and what shifts now that the Democrats have taken Congress.
Spot ETFs turn sellers again
The funds sent the heaviest signal. US-listed spot Bitcoin ETFs saw net outflows of $430.2 million on Thursday, according to Farside Investors: nearly $200 million from Fidelity’s FBTC and $105 million from BlackRock’s IBIT. The week had already started badly. Net outflows since Monday approach $870 million, with Wednesday the only day in positive territory. IBIT closed in the red in all four sessions.
Leverage made the slide steeper. Roughly $1.1 billion of positions were liquidated across the crypto market in Thursday’s 24 hours, almost 90% of them bullish, with about $280 million in Bitcoin. Those are CoinGlass figures reported by FinanceFeeds.
The mood soured fast. Alternative.me’s Crypto Fear & Greed Index fell to 28, in “fear” territory, from 50 the previous day.
$75,000, the line to defend
The $75,000 mark acted as support on election night and repeatedly since August, Bitcoin Magazine observes, and it has held so far. This week’s lows stop just above it, between $75,200 and $75,500 depending on the platform. If it gives way decisively, the next reference is the 200-day moving average around $73,200. The obstacle on the upside is close: the 100-day average sits near $77,000, just above current prices. Beyond that lies the $80,000 threshold lost on Thursday.
US data will decide the rest. The October employment report is out on November 6, inflation figures follow on Tuesday, November 10, 2026, and the Federal Reserve decides on December 9, 2026. The setup offers little to anyone hoping for a more dovish central bank. Weekly jobless claims fell to 189,000 on Thursday, below the 196,000 expected, a sign of a still-tight labor market.
The first clue to a rebound may come from flows rather than the chart. As long as the ETFs keep selling and the Nasdaq fails to find a floor, $75,000 looks more like a trench than a springboard.
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Editor’s note
This article was originally published in Italian on money.it by Ufficio Studi Money.it on November 06, 2026 as «Bitcoin appeso ai 75.000 dollari dopo il crollo del Nasdaq: dagli ETF escono 430 milioni». It has been translated and adapted for an international audience by the Money.it International desk.
