EL7.AI
CryptoMediumUpdated×3•Originally published 5 November 2026•Updated 6 November 2026•
4 min read

More Than $1 Billion in Crypto Positions Liquidated as Bitcoin Falls 5.5%

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Key Facts

1Bitcoin fell about 5.5% over the 24 hours through November 5.
2Crypto derivatives position liquidations exceeded $1 billion over 24 hours, most of them bullish bets.
3Bitcoin closed at $76,088.01 on November 5, compared with $80,504.01 on November 4.
4The S&P 500 fell 4.4% on November 5, its worst session since April 2025.

Bitcoin fell about 5.5% over the 24 hours through November 5, returning to levels near those recorded before Wednesday’s rally, according to CoinDesk. Over the same period, liquidations of crypto derivatives positions exceeded $1 billion, most of them bullish bets, according to CoinGlass data cited by the publication. CoinDesk described the wave as the largest since at least October 28–29. EL7 data showed Bitcoin closing at $76,088.01 on November 5, compared with $80,504.01 the previous day. Ether also closed at $2,238.01, down from $2,424.61 on November 4.

The decline in cryptocurrencies came amid a broad selloff in U.S. stocks. The S&P 500 fell 4.4% in Thursday’s session, its worst performance since markets were roiled by the “Liberation Day” tariffs in April 2025, according to the Associated Press. The Dow Jones fell 3.4% to 51,523.06 points, while the Nasdaq Composite lost 5.5% to close at 24,315.00 points. The S&P 500 ended the session at 7,353.73 points. Losses widened in more technology-focused indexes: the Nasdaq 100 fell 6.4%, while the Philadelphia Semiconductor Index dropped 12%; both posted their worst performances since March 2020, according to CoinDesk.

Pressure extended to companies directly tied to the cryptocurrency market. Crypto mining stocks fell between 15% and 20%, while shares of companies linked to digital assets declined more than 10%, according to CoinDesk. The publication linked the market’s moves to concerns that greater political opposition could slow the construction of data centers powering the AI boom. The prospect of slower expansion in that infrastructure raised concerns about related spending, while disappointing results from chipmakers added further pressure on the sector. Derivatives-funded position liquidations thus coincided with a selloff in technology stocks in the same session.

Joshua Lim, global co-head of markets at FalconX, said, "Fresh selling is returning to the market as the implications of a slowdown in data-center construction become clearer." The pressure followed Bitcoin’s rise on Wednesday, which Lim said resulted from short covering ahead of an expected election outcome. The S&P 500 had risen 1.6% in the previous session, the Dow Jones had gained 1,569.40 points and the Nasdaq had advanced 1.4%, according to AP. Results announced from Tuesday’s U.S. midterm elections showed Democrats taking control of both chambers of Congress, according to CoinDesk. Carlos Guzman of GSR said the elections added to existing concerns about returns on AI infrastructure spending, and that "disappointing chipmaker earnings added to the pressure."

Moves in major-company stocks reflected the severity of the decline. Nvidia shares fell 9.3%, the biggest drag on the S&P 500, turning its year-to-date performance to a 2.6% decline after annual gains of 39%, 171% and 239% in the previous three years, according to AP. The Nasdaq also stood 11.9% below its record high set in October, a decline exceeding the 10% threshold market watchers describe as a correction. In the bond market, the yield on the 10-year U.S. Treasury fell to 4.84% from 4.90% late Wednesday. The yield was at 4.95% on election night and above 5.30% the previous month; AP said its decline may reflect demand for safer assets as stocks fell.

Jasper De Maere, an analyst at Wintermute, urged caution against drawing a long-term trend from a single session’s moves, saying: "Let’s see where we settle in the short term; the medium term still has an upside bias." The U.S. jobs report for October was scheduled for November 6 at 8:30 a.m. Eastern time, according to the U.S. Bureau of Labor Statistics calendar. The October consumer price index was also scheduled for release on November 10 at the same time, followed by the producer price report on November 13. These upcoming economic releases put the sharp selloff in the context of a busy week of indicators watched by investors. De Maere’s comments, however, kept the distinction between short-term volatility and the medium-term outlook in focus in the crypto market’s assessment.

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