Bitcoin erased its post-election gains falling about 6% to ~$75,700 as a sharp sell-off in U.S. technology stocks spread across financial markets triggering more than $1 billion in cryptocurrency liquidations.

11.06.26 https://t.co/RW7UAuUvpA

— BitKE (@BitcoinKE) November 6, 2026

Ethereum fell more than 7% to around $2,250 while the broader crypto market retreated after Wednesday’s recovery had briefly pushed Bitcoin above $80,000.

 

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U.S. equities also suffered heavy losses with

  • the Nasdaq Composite dropping 4.7%,

  • the S&P 500 falling 3%, and

  • the Dow Jones Industrial Average losing about 3%.

The CBOE Volatility Index surged approximately 60%.

The market decline triggered about $1.09 billion in crypto liquidations over 24 hours affecting nearly 211,000 traders. Long positions accounted for approximately $879.9 million of the forced closures.

Crypto-related equities also came under pressure with Coinbase and Strategy falling about 10% each while mining companies, Bitdeer and Keel Infrastructure, lost approximately 20%.

Wintermute said the previous day’s recovery had been driven by short-lived optimism surrounding

  • the U.S. midterm elections,

  • the Binance hack, and

  • broader market developments.

The trading firm identified $73,000 and $68,000 as potential downside levels for Bitcoin while a recovery above $80,000 would be needed to improve the near-term outlook.

https://bitcoinke.io/2025/10/crypto-records-largest-single-day-liquidation-event/

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