CryptoMedium•6 November 2026•
1 min read
Bitcoin Erases Post-Election Gains as Nasdaq Slumps 5.5%
Key Facts
1The Nasdaq fell 5.5% on Thursday, marking its worst daily performance in approximately 19 months.
2Bitcoin gave back all its post-US midterm election gains amid liquidations and ETF outflows.
Bitcoin gave back all its post-US midterm election gains as the Nasdaq fell 5.5% on Thursday, November 5, 2026. Media reports indicated that this slump marked the tech-heavy index's worst daily performance in approximately 19 months, triggering a broader wave of liquidations across the cryptocurrency market.
The decline was accompanied by outflows from Bitcoin ETFs as the correlation between digital assets and technology stocks intensified. This price action follows a series of US economic updates; data released on November 6, 2026, showed the unemployment rate at 4.1% with 165,000 non-farm payrolls added, while Michigan Consumer Sentiment reached 51 points on the same day.