What happened overnight on November 7:
1️⃣ 📉 Bitcoin remained under pressure after the November 6 sell-off. On Friday, BTC fell below $75,000, then recovered to around $75,800. The decline in U.S. tech stocks coincided with major crypto liquidations, which exceeded $1 billion during some 24-hour periods. This does not prove there was a single cause of the drop.
2️⃣ 📊 U.S. spot BTC ETFs faced outflows: according to Farside, Fidelity’s FBTC lost about $200 million on Thursday, while BlackRock’s IBIT lost about $105 million. On Friday, market participants watched U.S. employment data and the outlook for interest rates.
3️⃣ 🛡 On November 6, South Korean exchange Gopax suspended withdrawals and began transferring assets from hot wallets to cold storage. The exchange described this as a precautionary security measure amid hacking threats, not as confirmation of a theft from Gopax itself.
4️⃣ 🇧🇷 Brazil’s Nubank and Mercado Pago temporarily restricted some crypto transfers because of outages at external service providers. A hack of these companies has not been confirmed as the cause. The incident highlights crypto services’ reliance on third-party infrastructure.
5️⃣ ⚖️ On November 6, FinCEN and the U.S. Federal Reserve officially withdrew a proposal to change recordkeeping requirements and the Travel Rule, including for virtual currency transactions. This was a withdrawal of a proposal, not a repeal of rules already in effect.
6️⃣ 💳 Gnosis Pay reported a leak of some customer data from an older debit card system. According to the company, no funds were affected; 3D Secure verification was made mandatory for online payments.
7️⃣ 🔧 On November 6, the NU7 upgrade was activated on Zcash: the target block interval was reduced from 75 to 25 seconds. A technical upgrade does not guarantee that ZEC will rise.
8️⃣ 🌍 Nervousness persisted in global markets surrounding tech companies and AI investments. The sharp drop in the Nasdaq the previous day coincided with a decline in the crypto market, but causation cannot be attributed to a single factor.
Skuf continues to distinguish confirmed events from market speculation.
Sources: Reuters, CoinDesk, FinCEN, The Block, Decrypt, Farside Investors (November 6–7, 2026).