Bitcoin Tumbles Below $77,000 as Nasdaq Selloff Triggers $835 Million in Liquidations

Published November 5, 2026, 9:55 PM PKT. Based on Crypto Briefing's report of the November 5, 2026 selloff (primary source), with additional reporting by CryptoPotato, AsiaTokenFund, Bitcoin Magazine, CaptainAltcoin and LoopWire (secondary sources), and live price data from Binance and CoinGecko.

Bitcoin ($BTC) fell below $77,000 on Thursday, November 5, 2026, erasing a post-midterm rebound to $81,000 in a matter of hours as a sharp selloff in artificial intelligence and semiconductor stocks spread across risk assets. Binance data put Bitcoin at $76,544, down 5.12% in 24 hours, with an intraday low of $75,568 and a 24-hour trading volume of $1.87 billion. CoinGecko showed a similar picture, with Bitcoin at $76,466, down 5.13%, and a market capitalization of $1.54 trillion. The drop wiped out most of the gains from Wednesday's recovery, when Bitcoin had climbed from a seven-week low to above $80,000 after the US midterm elections. Ethereum ($ETH), Solana ($SOL) and XRP ($XRP) fell with it, and total crypto liquidations passed $835 million in 24 hours, according to CoinGlass data.

The $81,000 rebound erased in hours

The speed of the reversal was the story of the day. Bitcoin slumped to a seven-week low of $75,600 on Wednesday morning as the US midterms concluded and Democrats secured control of both chambers of Congress, then erased those losses by the afternoon and ran to $81,000, a move that liquidated about $380 million in short positions, according to CryptoPotato. The rally held above $80,000 into Thursday morning, with traders cheering a short squeeze that pushed the price past $80,500, according to Bitcoin Magazine. Then the selling started. Bitstamp data showed Bitcoin falling about 6.22% from Wednesday's $81,105 peak to a low of $76,059 on Thursday, with the decline accelerating around 10 a.m. Eastern time as technology stocks fell, according to AsiaTokenFund. By 10:55 a.m. Eastern, Bitcoin had touched an intraday low of $75,468 on Bitstamp, within striking distance of Wednesday's lows. Binance hourly candles tell the same story: the 3 p.m. UTC hour opened at $78,288 and closed at $76,029, a drop of more than $2,250 in a single hour on heavy volume.

The Nasdaq trigger

The trigger sat on Wall Street. The Nasdaq Composite tumbled as much as 3.9% on Thursday and slipped into correction territory, trading 10% below the record close it set last month, CNBC reported, according to Bitcoin Magazine. The S&P 500 fell more than 2.3% and the Nasdaq Composite lost about 3.5% during Thursday's session, according to Crypto Briefing. Chip and AI stocks took the worst of it: Qualcomm fell about 10% in premarket trading after disappointing smartphone chip sales, while Nvidia, Intel and Broadcom also came under heavy selling pressure, with Nvidia and Broadcom each falling about 5%, according to AsiaTokenFund and Bitcoin Magazine. The Kobeissi Letter reported that the S&P 500 alone erased $2.2 trillion in market capitalization in about 55 minutes, and that the Nasdaq 100 sat about 6% away from a bear market. Bitcoin has traded alongside that AI-heavy tech complex for most of the year, and Bitcoin miners are now part of it, according to Bitcoin Magazine. The total crypto market capitalization fell 4.6% to about $2.57 trillion, according to CoinMarketCap data cited by Crypto Briefing, while LoopWire put the 24-hour decline at 4.97% to $2.62 trillion, with Bitcoin's dominance holding at 59.3% of total market value.

An $835 million liquidation flush

Leverage turned the move into a flush. More than $574 million in crypto positions were liquidated within an hour as Bitcoin broke $77,000 and Ethereum fell below $2,300, including over $540 million in long positions, according to Crypto Briefing, citing CoinGlass data. Total liquidations passed $835 million over the previous 24 hours. AsiaTokenFund put the 24-hour total at $838.54 million across 166,904 traders, with Bitcoin leading individual assets at $213.31 million in liquidations, followed by Ethereum at $122.13 million, and Binance accounting for 46.8% of liquidations by exchange. Wednesday's short squeeze had pulled in late buyers with borrowed money, and when stocks broke, those positions were the first to go, with forced selling pushing Bitcoin through support around $77,000, according to Bitcoin Magazine. Ethereum fell more than 6% to around $2,270, Solana declined 5% to $90, and XRP dropped 4% to $1.25, according to Crypto Briefing.

Jobless claims cool rate-cut bets

A second macro headwind arrived from the US labor market. Initial unemployment claims fell to only 189,000 for the week ending October 31, a 57-year low, according to CaptainAltcoin. A labor market that resilient gives the Federal Reserve less reason to move toward easier monetary policy, and that weighed on risk assets already under pressure from the tech selloff. The rally above $80,000 had looked powerful on the surface, but the underlying market data was less convincing: Bitcoin futures open interest barely increased during the recovery, US spot Bitcoin ETFs attracted only around $74 million, and the Coinbase premium remained negative, according to CaptainAltcoin. CoinDesk reported around $450 million in crypto short liquidations over the previous 24 hours, including $300 million in Bitcoin shorts, a sign that Wednesday's squeeze had already run its course before Thursday's drop.

The $75,000 test

Traders are now watching whether Bitcoin can hold the $75,000 area, which held as support on election night and several times since August, according to Bitcoin Magazine. Bitcoin's next technical test centers on the $75,600 to $76,000 support zone, where a sustained breakdown would threaten to erase Wednesday's post-election recovery entirely, according to AsiaTokenFund. If $75,700 breaks, the rebound from earlier in the week starts looking much more like a temporary relief rally, according to CaptainAltcoin. For now the market has stabilized above the lows: Bitcoin traded near $76,400 at press time, according to Crypto Briefing, and both Bitcoin and Ethereum have rebounded to levels above their recent lows, indicating potential market stabilization, according to a second Crypto Briefing report. The Bank of England's rate hike to 4% earlier on Thursday, its first increase since 2023, added to the global tightening backdrop, and MABOnChain reported that decision earlier today.

Sources

• Crypto Briefing, Bitcoin tumbles below $77K as tech and crypto stocks plunge in broad market selloff, November 5, 2026 (primary source: Bitcoin fell more than 4% below $77,000; Ethereum fell more than 6% to around $2,270, Solana declined 5% to $90, XRP dropped 4% to $1.25; total crypto market capitalization down 4.6% to about $2.57 trillion per CoinMarketCap; over $574 million in liquidations within an hour, over $540 million in longs; total liquidations over $835 million in 24 hours per CoinGlass; S&P 500 down more than 2.3%, Nasdaq Composite down about 3.5%; declines followed Tuesday's midterm elections)
• CryptoPotato, Bitcoin Price Suddenly Plunges to $76K as Hourly Liquidations Near $600M, November 5, 2026 (secondary reporting: Bitcoin slumped to a seven-week low of $75,600 on Wednesday morning, then ran to $81,000, leaving $380 million in shorts liquidated; rejection followed at $81,000; Ethereum down 7% in 24 hours, below $2,300 after nearing $2,500 the day before; S&P 500 erased $2.2 trillion in market cap in 40 minutes)
• AsiaTokenFund, Bitcoin Price Tumbles Below $77,000 in Tech Stock Selloff, November 5, 2026 (secondary reporting: Bitcoin fell about 6.22% from Wednesday's $81,105 peak to a low of $76,059 on Bitstamp; intraday low of $75,468 by 10:55 a.m. ET; Qualcomm fell about 10% in premarket trading on disappointing smartphone chip sales; Nvidia and Intel also under pressure; Nasdaq opened about 0.7% lower; CoinGlass 24-hour liquidations of $838.54 million across 166,904 traders, Bitcoin $213.31 million, Ethereum $122.13 million, Binance 46.8% of liquidations; $75,600 to $76,000 support zone)
• Bitcoin Magazine, Bitcoin Price Crashes 5% Below $75,000 Amid Tech Rout, November 5, 2026 (secondary reporting: Bitcoin fell about 5% from above $80,800 to near $76,000; Nasdaq tumbled as much as 3.9% into correction territory, 10% below its record close last month, per CNBC; Nvidia and Broadcom each fell about 5%; roughly $370 million in leveraged positions liquidated in about an hour; $75,000 area held as support on election night and several times since August; short squeeze pushed Bitcoin past $80,500 early Thursday)
• CaptainAltcoin, Here's Why Crypto Market Is Crashing Right Now!, November 5, 2026 (secondary reporting: initial unemployment claims fell to 189,000 for the week ending October 31, a 57-year low; resilient labor market gives the Federal Reserve less reason to ease; Bitcoin futures open interest barely rose during the recovery; US spot Bitcoin ETFs attracted only around $74 million; Coinbase premium remained negative; CoinDesk reported around $450 million in short liquidations over the previous 24 hours, including $300 million in Bitcoin shorts)
• LoopWire, Crypto Market Sheds Nearly 5% as Bitcoin Falls Below $77,000, November 5, 2026 (secondary reporting: total crypto market capitalization fell 4.97% to $2.62 trillion in 24 hours; trading volume of $83.55 billion; Bitcoin down 4.66% to $76,945, Ethereum down 6.23% to $2,281, Solana down 7.01% to $90.66; Bitcoin dominance at 59.3%)
• Binance, BTCUSDT 24-hour ticker, November 5, 2026 (live market data: last price $76,544, down 5.12% in 24 hours, open $80,674, high $80,962, low $75,568, 24-hour quote volume $1.87 billion; hourly candles verified fresh, last candle 16:00 UTC)
• CoinGecko, Trending coins, November 5, 2026 (live market data: Bitcoin ranked first among trending coins, price $76,466, down 5.13% in 24 hours, market capitalization $1.54 trillion)

This article is news reporting and is not investment advice.