CryptoMediumUpdated×4•Originally published 5 November 2026•Updated 5 November 2026•
1 min read
Bitcoin Sheds $5,000 as Nasdaq Chip Stock Rout Triggers Leveraged Liquidations
Key Facts
1Bitcoin price dipped below $76,000 as a Nasdaq selloff erased post-election gains.
2Bitcoin is testing the technical support band identified by Glassnode between $73,000 and $76,000.
Bitcoin lost over $5,000 in value in less than 24 hours, falling to $75,568. The sharp decline was driven by the liquidation of leveraged long positions following a rout in semiconductor stocks within the Nasdaq index.
This downward move forced Bitcoin into the support band previously identified by Glassnode between $73,000 and $76,000. The slump follows a failed attempt to clear the $80,000 resistance level and coincides with continued selling pressure on the S&P 500.
Latest Updates · 1
- Notable·
Update: A sell-off in Nasdaq chip stocks triggered over $560 million in crypto long liquidations within a single hour on November 5, 2026. These forced liquidations accelerated Bitcoin's decline as the digital asset's correlation with the technology sector intensified.