Bitcoin is following Wall Street in its decline. And the figures show that the pressure extends far beyond the crypto market.
On Thursday, November 5, markets underwent a sharp correction:
→ Nasdaq: -5.5%, its worst session in 19 months.
→ Semiconductor index: -12.3%, its biggest drop since March 2020.
→ Bitcoin: -5.6%, around $75,900, its lowest level since September 16.
→ Crypto liquidations: more than a billion dollars, including around 89% of long positions.
→ Bitcoin ETFs: 430.2 M$ in outflows during Thursday’s session.
My analysis:
This move once again highlights Bitcoin’s sensitivity to traditional markets.
The decline in tech stocks is undermining sentiment toward risk assets. Liquidations then amplify selling pressure, while ETF outflows add another signal of caution.
But be careful: a sharp correction does not automatically mean a lasting reversal.
The next things to watch:
→ Nasdaq stabilization.
→ A possible return of positive flows into Bitcoin ETFs.
→ BTC’s ability to defend its current price levels.
The real question: Can Bitcoin regain its independence from traditional markets, or will it remain strongly correlated with Wall Street? #Nasdaq100Tumbles6%
On Thursday, November 5, markets underwent a sharp correction:
→ Nasdaq: -5.5%, its worst session in 19 months.
→ Semiconductor index: -12.3%, its biggest drop since March 2020.
→ Bitcoin: -5.6%, around $75,900, its lowest level since September 16.
→ Crypto liquidations: more than a billion dollars, including around 89% of long positions.
→ Bitcoin ETFs: 430.2 M$ in outflows during Thursday’s session.
My analysis:
This move once again highlights Bitcoin’s sensitivity to traditional markets.
The decline in tech stocks is undermining sentiment toward risk assets. Liquidations then amplify selling pressure, while ETF outflows add another signal of caution.
But be careful: a sharp correction does not automatically mean a lasting reversal.
The next things to watch:
→ Nasdaq stabilization.
→ A possible return of positive flows into Bitcoin ETFs.
→ BTC’s ability to defend its current price levels.
The real question: Can Bitcoin regain its independence from traditional markets, or will it remain strongly correlated with Wall Street? #Nasdaq100Tumbles6%
