Why Is Bitcoin Price Down Today? Stocks, Liquidations and ETF Flows Weigh on BTC
Bitcoin slid toward $75, 000 on November 6, 2026, giving up a brief move above $80, 000 as technology stocks fell and leveraged crypto positions were liquidated. ETF withdrawals and paper losses among recent Bitcoin buyers added to the pressure, though the available figures don’t show how much each factor contributed.
- Crypto.news reported BTC at $75, 388, down 6.3% over 24 hours. Its price snapshot did not specify a time or time zone.
- CoinGlass recorded about $1.08 billion in crypto liquidations over a 24-hour period on November 5.
- Bloomberg reported roughly $1 billion in withdrawals from US spot Bitcoin ETFs over several days, alongside a net inflow on November 4.
- Analysts pointed to $75, 001 and the area near $73, 000 as levels to watch, not guaranteed support.
Bitcoin fell alongside technology stocks
Bitcoin traded above $80, 000 earlier in the November 5 session, then fell below $78, 000 and neared a seven-week low. Crypto.news put BTC at $75, 388 on November 6, down 6.3% over 24 hours. The price snapshot did not include an exact time or time zone, so treat it as a reading at a particular moment, not a closing price.
US equities also took a sharp hit on Thursday, November 5. The Nasdaq Composite fell 5.5%, the S&P 500 dropped 4.3%, and the Dow Jones Industrial Average lost 3.4%. The Philadelphia Semiconductor Index plunged 12%, while Nvidia shares fell more than 9%.
Coinbase and Strategy shares each dropped around 10%, while several Bitcoin mining companies fell even further. Market coverage tied the weakness in technology stocks to concerns over AI valuations, returns on major AI infrastructure investments, and whether political opposition could slow data-center construction. That helps explain the market mood, but it doesn’t establish that any policy change caused the sell-off.
Vetle Lunde, head of research at K33, called Bitcoin’s decline alongside the Nasdaq a “huge correlated move.” The markets moved together. That alone doesn’t prove falling technology stocks caused Bitcoin’s decline.
Liquidations may have amplified the drop
CoinGlass data showed that about $1.08 billion in leveraged crypto positions were liquidated over a 24-hour period on November 5. The total included $954.38 million in long liquidations and $127.30 million in short liquidations. Bitcoin accounted for about $280.65 million, and Ethereum for $174.86 million.
A long position generally gains when an asset’s price rises, while a short position generally gains when it falls. Leverage gives traders exposure greater than their initial capital. When prices move against them and they can’t meet margin requirements, their positions may be forcibly closed. That forced selling can add pressure to a falling market, though liquidation totals don’t show how much they amplified Bitcoin’s move.
Bitcoin futures open interest, the reported value of outstanding futures exposure, fell from $28 billion earlier in the November 5 session to below $26 billion. CoinGlass said it was at its lowest level since mid-September. Some of the drop in dollar value may reflect Bitcoin’s lower price, rather than traders closing positions. Open interest alone also doesn’t show whether traders expect prices to rise or fall.
ETF outflows and a one-day inflow
Bloomberg reported roughly $1 billion in withdrawals from US spot Bitcoin ETFs over several days after an October 29 Binance hack, through November 5. BlackRock’s iShares Bitcoin Trust, or IBIT, accounted for about $900 million of those withdrawals. The timing doesn’t establish that the hack caused investors to pull their funds.
Flows turned positive on November 4, when US spot Bitcoin ETFs recorded $74.6 million in net inflows after three straight sessions of withdrawals. Fidelity’s FBTC attracted $236.7 million that day. Separately, market data reported on November 5 showed $201.2 million in outflows from IBIT.
The figures cover different periods and measures. The roughly $1 billion figure describes withdrawals over several days, while $74.6 million is the one-day net total across the funds. One positive day doesn’t erase a wider period of outflows, and fund-flow data alone can’t explain why investors bought or sold.
Recent Bitcoin buyers are carrying paper losses
Glassnode analysts said most Bitcoin held by short-term holders was at an unrealized loss. Glassnode generally classifies coins acquired within the previous 155 days as short-term. A month earlier, nearly all coins held by this group were profitable.
An unrealized loss is a paper loss on Bitcoin that hasn’t been sold. It doesn’t mean holders have locked in losses or are certain to sell. But if prices keep falling, some recent buyers may feel more pressure to exit.
Bitcoin price levels analysts are watching
Paul Spirgel identified $75, 001 as a key Fibonacci retracement level, a technical-analysis reference some traders use to assess possible support or resistance. He also cited the 200-day moving average near $73, 188 and the 30-day moving average near $81, 319. October highs were above $84, 800.
Wintermute OTC trader Jasper De Maere named $73, 000 and $68, 000 as possible downside targets. He said Bitcoin would need a sustained recovery above $80, 000 to show renewed short-term strength. His medium-term view, he added, was “glass half full.”
These levels are reference points, not promises that Bitcoin will hold, rebound, or fall to a particular price. The sell-off coincided with weakness in equities, liquidations, ETF withdrawals, and losses among recent buyers. The available data don’t isolate the effect of each factor. They also don’t settle whether the decline is temporary or signals a deeper shift in market direction.
Bitcoin price drop: key questions answered
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How far did Bitcoin fall?
Crypto.news reported BTC at $75, 388 on November 6, down 6.3% over 24 hours after it gave up a brief move above $80, 000. The price snapshot didn’t include a time or time zone.
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What coincided with Bitcoin’s decline?
US technology stocks fell sharply, leveraged crypto positions were liquidated, and spot Bitcoin ETFs had seen substantial withdrawals over several days. The figures don’t show how much any one factor contributed.
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How large were the crypto liquidations?
CoinGlass reported about $1.08 billion in liquidations over a 24-hour period on November 5, including $954.38 million in long positions.
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Did Bitcoin ETF flows turn positive?
Yes. US spot Bitcoin ETFs recorded $74.6 million in net inflows on November 4, while Bloomberg reported roughly $1 billion in withdrawals over several days after October 29.
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Which Bitcoin price levels are analysts watching?
Analysts cited $75, 001 and the area near $73, 000, with $68, 000 among De Maere’s possible downside targets. These are technical reference points, not assured support levels or forecasts.
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Does the sell-off prove Bitcoin’s medium-term outlook has turned negative?
No. De Maere described his medium-term view as “glass half full, ” while saying Bitcoin would need a sustained move above $80, 000 to show renewed short-term strength.
