Bitcoin falls back to $75,500 after Wall Street's worst session since April 2025
Bitcoin dropped about 6% on Thursday, 5 November, to around $75,500, and touched close to $75,460 on Bitstamp, its lowest since 16 September. On Wednesday, a brief post-election bounce had pushed it back above $80,000. Ether lost 7.5 to 8%, to around $2,240, and solana 6 to 8%, to around $89.
The shock came from Wall Street's worst session since April 2025: the Nasdaq gave up 5.5%, the S&P 500 4.4% and the Dow 3.4%. Investors sold AI and chip stocks, worried that a Congress now in Democratic hands would slow down data centers. Coinbase and Strategy lost about 10%. CoinGlass counts $1.08 billion liquidated in 24 hours across more than 210,000 accounts, 88% of it in bets on a rise.
Bitcoin is moving in step with tech again. Without leverage, this is only a drop in valuation. For a borrowed position on Aave or elsewhere, everything depends on the liquidation price: Wintermute names $73,000 and then $68,000 as the next levels to watch.
Bitcoin loses 6% in a single day, dragged down by the Wall Street sell-off
On Thursday, 5 November, bitcoin lost about 6% in a single day. It went from more than $80,000 on Wednesday to about $75,500, its lowest level since mid-September. Ether (the crypto of the Ethereum network) fell almost 8%, and solana between 6 and 8%. This time the trouble came from the US stock market: the Nasdaq (the index of tech stocks) lost 5.5%, its worst session since April 2025, as a wave of selling hit artificial intelligence stocks. As often happens on days of real fear, crypto followed.
If you hold crypto, your portfolio is worth about 6 to 8% less than it was two days ago. Nothing was stolen and no platform is down, only prices have dropped. The hardest hit were people who had borrowed to bet on a rise (so-called “leveraged positions”): more than $1 billion of these bets were force-closed in 24 hours. If you haven't borrowed, this doesn't affect you.
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Bitcoin: the Nasdaq correction triggers $1.08 billion in liquidations
On Thursday, 5 November, BTC lost 6% to around $75,500 (a low of $75,463 on Bitstamp, $75,568 according to The Block), falling below its 50-week moving average ($75,733), a level not seen since 16 September. ETH gave up 7.5 to 8% ($2,230 to $2,250), SOL 6 to 8% ($89), and Wednesday's bounce above $80,400, after the Democratic win in both the House and the Senate, has been wiped out.
CoinGlass reports $1.08 to $1.1 billion liquidated in 24 hours across about 210,000 accounts, including $954 million in longs (88%) and $127 million in shorts, most of it ($880 to $896 million, including $818 million in longs) in the four hours after the US open. The Nasdaq, down 5.5%, is now in correction territory, more than 14% below its October record. The S&P 500 gave up 4.4%, the Dow 3.4%, chip stocks 12%, and the VIX jumped 60 to 70%. Coinbase and Strategy lost 10%, and listed miners 13 to 20%.
Thursday's ETF flows still need to be confirmed, after three sessions of outflows totaling more than $1.1 billion and then $74 million of inflows on Wednesday. The Coinbase Premium is still negative, Wintermute is watching $73,000 and then $68,000, and the chain itself had no incident. Under French tax rules, the drop doesn't trigger anything. A liquidation on a lending protocol sells the collateral for stablecoins, a crypto-to-crypto swap that isn't taxed at the time in France, but it does show up in your history. Losses on futures fall under a different regime, which is still being debated.
