Quick Read

  • Bitcoin sank about 6% to $76,000 as every spot ETF bled money, with investors pulling $430 million in a single session.

  • A stock market rout, with the Nasdaq down 5.5%, dragged crypto lower and triggered about $880 million in mostly long liquidations.

  • Bitcoin still holds above its 200-day average of $73,000 and has fallen far less than Ethereum or Solana over the past month.

  • It sounds nuts, but SoFi is giving new Active Invest users up to $1,000 in stock for a limited time, and all it takes is a $50 deposit to get started. See for yourself (Sponsor)

Bitcoin sank about 6% to $76,000 as every spot ETF bled money, with investors pulling $430 million in a single session.

A stock market rout, with the Nasdaq down 5.5%, dragged crypto lower and triggered about $880 million in mostly long liquidations.

Bitcoin still holds above its 200-day average of $73,000 and has fallen far less than Ethereum or Solana over the past month.

It sounds nuts, but SoFi is giving new Active Invest users up to $1,000 in stock for a limited time, and all it takes is a $50 deposit to get started. See for yourself (Sponsor)

Bitcoin (CRYPTO: BTC) is trading at $75,773, remaining below the critical $76,000 mark it lost on November 5, 2026. This decline follows a significant net outflow of $430.2 million from US spot Bitcoin ETFs on that same day, as reported by Farside. This outflow starkly reverses the previous session's $74.6 million inflow.

Bitcoin fell roughly 6% to about $75,700 and ultimately closed at its lowest price in the past month on November 5. It now trades 39.9% below its all-time high of $126,080, which was reached on October 6, 2025; a 66.39% rally from the current price would be needed to recover this level. Year to date, Bitcoin is down 13.48%.

After touching a low of approximately $75,200, Bitcoin rebounded slightly and has increased by 0.27% in the past 24 hours. So did that bounce signal a bottom, or is it just a pause before further declines?

Wall Street's Severe '4-Sigma Day' Affects Bitcoin

Bitcoin's sharp drop coincided with a major stock market sell-off: the Nasdaq fell 5.52%, the S&P 500 dropped 4.36%, and the Dow Jones fell 3.44% on November 5. Spot ETFs let investors hold Bitcoin in the same brokerage accounts as their stocks, and as risk-taking declined, investors sold everything en masse, including Bitcoin.

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During this turmoil, the CBOE Volatility Index, or VIX, surged from 16.61 to 28.18. Traders treat readings above 30 as a sign of high fear, so the move showed heavy stress just short of outright panic.

Michael Saylor, co-founder of Strategy Inc. (NASDAQ: MSTR), labeled November 5 a '4-sigma day' for equities on social media, noting that such a drastic move is statistically unusual. Both shares of Strategy, the largest corporate holder of Bitcoin, and Coinbase (NASDAQ: COIN) fell about 10%.

Despite the downturn, Saylor pointed out that STRC, Strategy's variable-rate preferred stock, finished the day at $99.56, just below the face value that its dividend supports. This suggests that investors remained confident in an instrument used to fund Bitcoin purchases. The sell-off was exacerbated by leverage, leading to roughly $879.92 million in forced liquidations within four hours, with $818.90 million coming from long positions and only $61.02 million from shorts.

All Spot Bitcoin ETFs Experience Outflows on November 5

Data from Farside indicated that no spot Bitcoin fund gained any money on November 5, as all experienced outflows. A net outflow suggests more investors redeemed shares than purchased them, prompting the issuer to sell Bitcoin to cover these redemptions.

Fund

Net Flow on November 5 (Farside)

Fidelity's Bitcoin ETF

-$199.9 million

iShares Bitcoin Trust

-$105.0 million

Grayscale Bitcoin Trust

-$49.9 million

Franklin Bitcoin ETF

-$32.9 million

VanEck Bitcoin ETF

-$23.6 million

ARK 21Shares Bitcoin ETF

-$18.9 million

Total

-$430.2 million

Fidelity's fund faced the biggest losses, with BlackRock's iShares fund closely following. Nevertheless, total inflows across Bitcoin ETFs since launch have reached $56.18 billion, so one negative session is unlikely to significantly affect the overall funds. However, simultaneous outflows from all issuers indicate a broader trend of risk reduction across the market.

Bitcoin Holds Up Better Than Ethereum and Solana Recently

Bitcoin is trading below its 20-day average of $79,956 and its 50-day average of $82,003, indicating that most buyers from the last month or two are currently facing losses. However, it remains above its 200-day average of $73,197, a key threshold traders use to distinguish corrections from bear markets.

In the last 24 hours, total crypto trading volume increased by 13.16%, according to CoinGecko. The Crypto Fear and Greed Index, ranging from 0 to 100, registered a fear level of 41. Over the past month, Bitcoin has lost 9.02%, Ethereum (CRYPTO: ETH) has declined 13.59%, and Solana (CRYPTO: SOL) has plummeted 22.35%. In the last 24 hours, Ethereum fell 2.11% to $2,223.45, and Solana fell 0.4% to $90.25, while Bitcoin edged up slightly.

Bitcoin typically sees smaller declines during sell-offs because of its large base of institutional holders, including ETFs and corporate treasuries like Strategy. It currently represents 59.14% of the entire crypto market's value, making it a safer choice for traders looking to cut risk. In contrast, Ethereum and Solana rely more heavily on speculative traders, which can lead to greater price swings in both directions.

Key Levels to Watch for Bitcoin's Next Move

Support levels indicate where buyers have historically stepped in, while resistance levels show where sellers have taken action. Here's a breakdown of important levels and their distance from Bitcoin's current price of $75,773

Level

Description

Distance From $75,773

$80,000

Round-number resistance

+5.58% ($4,227 above)

$76,000

Key level Bitcoin lost on November 5

+0.30% ($227 above)

$75,200

Recent rebound low

-0.76% ($573 below)

$75,000

Round-number support

-1.02% ($773 below)

$73,197

200-day simple moving average

-3.40%

For Bitcoin to mount a recovery towards $80,000, it must first overcome the $76,000 hurdle and then break through the 20-day average, where sellers previously made their moves.

Can Bitcoin Maintain Above $75,000?

Bitcoin's ability to hold above the psychologically significant $75,000 mark remains in question.

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