Decrypt reported that Bitcoin fell to $74,780.91 on Friday, November 6, 2026—its lowest intraday level since August 21, 77 days earlier—as a technology-stock selloff coincided with heavy liquidations in crypto derivatives. Bitcoin was trading near $75,570 at the time of the report.
This is a historical account: the original article was published on November 7, 2026, at 00:34:07 UTC+8. Prices and indicators below reflect that report, not current market conditions.
The liquidation bill fell mostly on bullish bets
According to CoinGlass data cited by Decrypt, approximately $1.05 billion in crypto positions were liquidated over the preceding 24 hours:
- Long positions: $930.04 million, or 88.2% of the total.
- Short positions: $124.69 million.
- Bitcoin positions: $267.20 million, with longs accounting for 88.9%.
- Ethereum positions: $167.14 million, with longs accounting for 81.1%.
Liquidation occurs when an exchange automatically closes a leveraged position because its collateral is insufficient. Forced closures of bullish positions can add selling pressure to an existing decline. Unlike an unleveraged holding, a leveraged position can be closed before its holder has the option of waiting for a recovery.
The Fear and Greed Index stood at 28 out of 100, approaching extreme fear, compared with a neutral reading a week earlier, before the U.S. midterm elections. The index measures sentiment; it does not establish where prices will go next.
AI stocks supplied the backdrop—not proof of a single cause
Decrypt reported that Thursday’s equity selloff included a 5.52% decline in the Nasdaq Composite, its worst session in 19 months. The Philadelphia semiconductor index fell more than 12%, Nvidia lost over 9%, and the S&P 500 dropped 4.36%, erasing roughly $3 trillion in market value across its constituents.
The article linked concerns following Democratic victories in Tuesday’s midterm elections to the prospect of tougher AI regulation slowing data-center construction. It also reported that a stronger-than-expected October U.S. jobs report increased expectations of another Federal Reserve rate hike in December.
Those were the reported explanations surrounding the selloff, not proof that one factor caused Bitcoin’s decline. Decrypt explicitly cautioned that simultaneous falls in equities and crypto did not establish that the stock-market rout alone drove Bitcoin lower. Some chip shares subsequently recovered ground, while higher borrowing-cost expectations remained a potential constraint on speculative markets.
The chart signals remained conditional
Bitcoin’s weekly chart showed lower highs since September, when it briefly traded above $87,000. At the report’s snapshot, price was below both the 50-day exponential moving average near $79,756 and the 200-day EMA around $76,497—even though the shorter average remained above the longer one.
The Relative Strength Index was 37.7, below neutral but above the conventional oversold threshold of 30. The Average Directional Index stood at 19.7, suggesting weak trend strength, with directional indicators leaning bearish.
Decrypt identified $74,780 as immediate support. Its conditional downside levels were $73,000–$72,500, followed by $70,000 if that zone failed. On a recovery, it pointed to approximately $76,497 and then $80,000 as obstacles.
Friday’s daily candle was still open. Those levels were chart scenarios, not confirmed outcomes or return promises.