Crypto pressure on November 5 accompanied by about $1.1 billion in liquidations
Key Facts
The Block reported that a sell-off in U.S. technology and AI stocks spilled over into cryptocurrencies on November 5, 2026, with leveraged-position liquidations exceeding $1 billion over 24 hours. Bitcoin fell about 6% to $75,700 after recording an intraday low of $75,568, while Ether dropped more than 7% to $2,247. The moves came as U.S. technology stocks fell sharply, linking digital assets’ performance to a broader wave of risk aversion. CoinDesk reported that the Nasdaq lost 5.5% in the session, compared with 4.3% for the S&P 500 and 3.4% for the Dow Jones. At 2 p.m. Eastern Time, all three indexes were also lower, while the VIX rose about 60%, according to The Block.
Liquidations in the cryptocurrency market totaled about $1.1 billion over 24 hours on November 5, affecting about 211,000 traders, according to figures cited by The Block. Over a four-hour period, liquidations reached $879.92 million, including $818.90 million in long positions and $61.02 million in short positions. The breakdown shows that long positions accounted for the largest share of liquidations during that period, as prices fell rapidly. These figures related to the November 5 session, while coverage said leveraged-position liquidations exceeded $1 billion over 24 hours. The available figures did not include a corresponding breakdown of liquidations for the November 8 session.
The Block linked Bitcoin’s earlier rebound to several factors, including easing concerns related to the Binance hack, enthusiasm over the election results, optimism about a possible slowdown in AI spending, and lower oil prices. It quoted Wintermute as saying those factors had supported the earlier rise, without establishing that their effect continued during the November 5 session. In CoinDesk’s coverage, Joshua Lim, an executive at institutional brokerage FalconX, said selling resumed as the implications of a slowdown in data center construction became clearer. He added that the pre-election rebound had been driven by short covering. The coverage thus presented pressure on technology stocks and shifts in trading positions as context for that day’s moves, without attributing the November 8 decline to a specific cause.
On November 6, Bitcoin rebounded from about $75,200 to nearly $76,150, a move CoinDesk described as a 0.2% gain since midnight UTC. Ether posted a slight daily gain of 0.3%. But flows into U.S. spot Bitcoin funds continued to show pressure in the Thursday, November 5 session: Fidelity’s FBTC recorded outflows of about $200 million, while about $105 million flowed out of BlackRock’s IBIT. The outflow streak from IBIT extended to five sessions, according to CoinDesk. These are data from sessions before November 8 and do not establish the direction of prices or flows on the date of the news in question.
The events listed by CoinDesk on November 6 included the U.S. jobs report, scheduled for 8:30 a.m. Eastern Time, or 13:30 UTC. Investing.com also cited U.S. inflation data for October, scheduled for November 10, and the Producer Price Index for the same month on November 13, as data that could affect monetary policy expectations. Investing.com identified the $75,000 to $76,000 range as a nearby support zone for Bitcoin after the rebound, and the $80,000 to $81,000 range as a key resistance zone. These levels and dates relate to coverage published on November 6 and afterward and do not measure market movements on November 8. Market capitalization figures and figures for Bitcoin’s decline and liquidations attributed to November 8 were not supported by dated evidence that could be confirmed.