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Bitcoin fell below $76,000 on November 5, 2026, as a broader technology-stock selloff pressured cryptocurrency markets. CoinGlass reported $1.03 billion in 24-hour crypto liquidations, including approximately $925 million in long positions. Bitcoin also briefly moved below its 50-week moving average at $75,733. The decline followed a post-election rebound that had taken BTC to $81,105 on Wednesday.
Bitcoin Price Drops Below $76,000 as Liquidations Surge Past $1 Billion
Bitcoin's post-election recovery reversed sharply on Thursday, November 5, as selling across technology stocks spread into cryptocurrency markets. BTC fell below $76,000, while leveraged position liquidations across the crypto market climbed above $1 billion.
The decline came after Bitcoin had recovered from $75,618 during the November 3 US midterm election count to reach $81,105 on Wednesday. That rebound quickly lost momentum as investors reassessed the outlook for technology shares, artificial intelligence spending and the wider economy.
According to CoinGlass, total crypto liquidations reached $1.03 billion over 24 hours in the latest reported reading. Ethereum also dropped below $2,300, while Coinbase and Strategy shares fell at least 9% during the session.
The simultaneous weakness in equities and digital assets points to a broader reduction in risk appetite rather than an isolated move in Bitcoin.
Technology Stocks Extend Losses as Bitcoin Reverses Its Election Rally
Bitcoin traded near $80,000 before selling pressure intensified at approximately 10 a.m. Eastern time on Thursday, according to TradingView data.
The move followed a brief recovery after Democratic victories in both chambers of Congress in the November 3 midterm elections. BTC had climbed from $75,618 during the vote count to Wednesday's intraday high of $81,105.
However, the positive momentum did not survive the next session.
The Nasdaq Composite dropped 4.2% in morning trading, reaching its lowest level since July 29. The S&P 500 declined 2.7%, with semiconductor companies among the major sources of weakness.
Qualcomm shares came under pressure after the company reported weaker-than-expected smartphone chip sales. Investors were also assessing whether greater scrutiny of new data centers could affect investment in artificial intelligence infrastructure.
Economist Mohamed El-Erian questioned whether the new Congress would slow the technology sector's expansion. He also raised concerns about how the economy might perform if technology earnings and investment stopped providing support for growth.
These developments matter for crypto because Bitcoin increasingly trades within the same broader risk environment as technology stocks. When investors reduce exposure to growth-oriented assets, leveraged positions in digital markets can become vulnerable to rapid unwinding.
Oil Rises as Middle East Supply Concerns Add to Market Uncertainty
The broader market decline unfolded alongside a rise in oil prices.
West Texas Intermediate moved back above $90 per barrel, while Brent crude gained approximately 2.5% to trade near $97.
The increase followed reports of fresh attacks on tankers in the Middle East, reviving concerns about potential disruptions to energy supplies.
Higher oil prices can complicate the inflation and interest-rate outlook, particularly if supply concerns persist. That creates another source of uncertainty for investors already assessing technology-sector valuations and economic growth.
The combination of falling equities and rising oil prices added to the unsettled market environment surrounding Thursday's Bitcoin decline.
Crypto Liquidations Cross $1 Billion as Long Positions Bear the Brunt
Leveraged trading amplified the cryptocurrency selloff.
An earlier CoinGlass reading put total 24-hour liquidations at $838.54 million. Long positions accounted for $741.04 million of that amount.
Long trades are structured to benefit when an asset's price rises. When the market moves sharply in the opposite direction, falling collateral values can push positions below exchange margin requirements, triggering automatic closures.
The pace of forced selling accelerated during the US trading session. Exchanges liquidated approximately $555 million in positions during the hour through 10:30 a.m. Eastern, including roughly $520 million in long positions.
In the latest reading, total liquidations reached $1.03 billion, with approximately $925 million in longs, representing nearly 90% of the total.
Bitcoin accounted for around $256 million in liquidations, while Ether followed with approximately $164 million.
The concentration in long positions shows how traders positioned for continued price gains were particularly exposed when the market reversed. As exchanges automatically close leveraged trades, the resulting market orders can add further selling pressure, especially when buyers are less willing to absorb supply.
Binance Accounts for Nearly Half of Liquidation Value
Binance represented nearly half of the dollar value of liquidations in the latest CoinGlass reading.
The concentration comes roughly a week after an October 29 security breach at the exchange. Binance said the incident affected approximately $6.34 billion in assets and pledged to cover the losses.
The timing places additional attention on activity at one of the largest venues for cryptocurrency trading. However, the available liquidation figures do not establish a connection between the earlier security incident and Thursday's market decline.
Liquidations reflect the forced closure of leveraged positions when margin requirements are no longer met. They can rise rapidly during volatile sessions, regardless of whether an exchange has experienced a separate security event.
Bitcoin Slips Below Its 50-Week Moving Average
Bitcoin's decline also brought an important technical level into focus.
The price briefly moved below its 50-week simple moving average at $75,733, falling approximately $270 beneath the indicator. The 50-week average calculates the mean of Bitcoin's closing prices over the previous 50 weeks.
The level has helped contain BTC declines since mid-September, making Thursday's move significant for traders monitoring longer-term market structure.
Bitcoin also slipped below the $75,600 to $76,000 range, an area where buyers had previously entered during the election-night decline. The move placed BTC near the lower end of its one-month trading range.
A brief move below a moving average does not, by itself, establish a lasting breakdown. Traders generally distinguish between an intraday breach and a weekly close, which can provide a clearer indication of whether a longer-term support level has weakened.
That distinction is especially relevant while liquidation activity remains elevated and broader financial markets are experiencing sharp moves.
Rekt Capital Draws a Comparison With Bitcoin's May Decline
Crypto analyst Rekt Capital highlighted a historical comparison with Bitcoin's market behavior in May.
At that time, BTC traded around $80,000 before breaking lower. The decline continued into late June, when Bitcoin reached approximately $57,000.
The comparison draws attention to the possibility that a period of apparent price stability can give way to a deeper correction. However, historical similarities do not establish that the current market will follow the same path.
The immediate technical levels remain important in assessing the latest move. If Bitcoin stages a recovery, the first resistance area identified in the supplied market analysis sits between $80,000 and $81,105.
The upper end of that range represents Wednesday's intraday peak on Bitstamp. It is a reference point from recent trading, not a guarantee of where the market will move next.
What the Liquidation Surge Says About Trader Positioning
The latest figures reveal how heavily the market was positioned for rising prices before Thursday's reversal.
With long positions accounting for nearly 90% of the latest liquidation total, the decline forced a substantial number of bullish leveraged traders out of their positions.
This can create a feedback loop. Falling prices trigger liquidations, forced closures add sell orders, and the additional selling can push prices lower if market demand is insufficient.
The process can make a correction more abrupt than the initial change in investor sentiment might suggest.
It also explains why liquidation totals should be read alongside spot-market activity, trading volume and open interest. A large liquidation figure reveals the scale of forced position closures, but does not independently explain whether long-term investors are changing their outlook.
The simultaneous weakness in technology stocks adds another layer. If investors continue reducing exposure to risk-sensitive assets, crypto markets may remain vulnerable to volatility. A stabilization in equities could ease some of that pressure, although it would not automatically reverse crypto-specific positioning.
Bitcoin Faces a Test After the Post-Election Reversal
Bitcoin's move below $76,000 has put both its recent trading range and its 50-week moving average under scrutiny.
The next phase will depend partly on whether the price can regain the levels lost during Thursday's selloff, whether forced liquidations begin to ease and how technology stocks respond to the broader economic and investment concerns.
A recovery toward the $80,000 to $81,105 area would bring the recent trading range back into focus. Continued weakness, particularly if accompanied by a weekly close below the 50-week average, would keep attention on the durability of longer-term support.
Neither outcome is established by the current data.
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#BitcoinForecast #EstimatesNotAdviceButHope 🌍 #PositiveMindsGlobalResults | Binance Square | October 23, 2026
The next 24 hours could be decisive for Bitcoin and the wider cryptocurrency market. After failing to sustain its recent recovery toward $84,000 to $85,000, BTC has returned to a critical support area. Ethereum is struggling to regain momentum, while BNB faces resistance above its current trading zone.
These are scenario-based estimates, not guaranteed prices or financial advice.
BITCOIN BTC-USD
Reference price: approximately $81,500 based on a market report published on October 23.
24-hour estimated range: $79,800 to $84,500.
Support: $81,000, $80,000 and $79,000.
Resistance: $82,500, $84,000 and $84,800.
Bullish scenario: If BTC holds above $81,000 and reclaims $82,500 with convincing trading volume, a recovery toward $84,000 to $84,500 becomes possible.
Bearish scenario: A sustained break below $80,000 could expose Bitcoin to further selling pressure toward $79,000 to $78,000.
My assessment: Cautious to bearish until Bitcoin reclaims $84,000. The $80,000 support zone remains the most important near-term level to watch.
ETHEREUM ETH-USD
Reference price: approximately $2,390 to $2,410.
24-hour estimated range: $2,300 to $2,480.
Support: $2,350 and $2,300.
Resistance: $2,412, $2,460 and $2,510.
A recovery above $2,460 could improve short-term sentiment. However, a sustained break below $2,350 would increase the risk of a move toward $2,300.
BNB-USD
Reference price: approximately $731 to $734.
24-hour estimated range: $710 to $755.
Support: $722, $710 and $697.
Resistance: $745, $753 and $762.
BNB could recover toward $745 to $755 if buying volume improves. A decisive break below $722 would weaken the outlook and could expose the $710 to $697 area.
GLOBAL ECONOMY AND CRYPTO RISK
Rising oil prices, inflation concerns, technology-stock volatility and expectations surrounding the Federal Reserve's October 27 to 28 meeting could influence risk appetite. Recent reporting has highlighted Bitcoin's sensitivity to movements in technology shares and macroeconomic sentiment.
Even positive institutional fund flows cannot guarantee higher prices if selling pressure returns.
MY 24-HOUR CONCLUSION
BTC: Cautious, with $80,000 as the key support.
ETH: Weak until it reclaims $2,460.
BNB: Range-bound unless it breaks above $755 or below $722.
These ranges are estimates, not certainties. Weekend liquidity may amplify sudden price movements. Watch confirmed candle closes, volume and broader market conditions rather than relying on price targets alone.
Hope is valuable, but disciplined risk management matters more.
Disclaimer: This article provides an independent, scenario-based market outlook for educational purposes only. It is not financial advice. Prices may move outside these ranges, and no outcome is guaranteed. Always do your own research and manage risk responsibly.
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