Bitcoin briefly fell below $75,000 on Friday, 6 November 2026, reaching its lowest level since August as technology shares sold off across global markets.
The price fell to $74,762, its lowest level since 21 August, with selling intensifying shortly after bitcoin crossed $76,000 for a third time at about 8:25 a.m. EST.
By 11:48 a.m. EST, bitcoin had recovered slightly to trade below $75,700. It’s down nearly 1.5% over the previous 24 hours, while the overall crypto market's value had fallen 0.5% on the day.
After a 5% fall roughly 24 hours earlier, bitcoin found support above $75,000, but each of three attempts to move beyond $76,000 met a quick sell-off, testing the 50-week simple moving average at $77,533.
- 4 NovemberEarlier peak
Bitcoin later gave up $5,046 from this peak.
- Thursday, 5 November 2026Technology shares fall
The sell-off in technology stocks reached crypto markets.
Coinglass data put bitcoin liquidations at $125 million, including approximately $105 million in long positions, while liquidations across the wider crypto market fell to $470 million from more than $1 billion the previous day.
Technology losses spread across markets
South Korea's benchmark KOSPI fell up to 9%, prompting a temporary circuit-breaker trading halt, while major indices in Japan and Taiwan also recorded heavy losses. In US trading on Thursday, the Magnificent 7 stocks collectively lost $1 billion in market value.
Concerns over returns from AI capital spending, data-centre regulation and the unwinding of highly leveraged positions coincided, Bitunix analysts said. They linked those pressures to sharp declines in technology and semiconductor shares.
A reversal of the markets' initial post-election rally followed reports that Democratic lawmakers intended to target artificial-intelligence companies, particularly data-centre operators, over rising voter concerns.
US employment figures released on Friday showed 165,000 jobs added in October, while September's payroll figure was revised upward from 29,000 to 60,000. The unemployment rate was 4.1%, against a forecast of 4.2%.
Employment increased in professional and business services, in health care, and in transportation and warehousing,
Stronger hiring can weigh on crypto and other risk assets by suggesting the economy can absorb tighter financial policy, reducing expectations of liquidity flowing into markets. That leaves the jobs figures relevant to interest-rate expectations and demand for bitcoin.
December rate expectations diverge
CME Group's FedWatch Tool showed the probability of a 25-basis-point Federal Reserve rate hike in December rising from 66.9% to 76.8%. Bitunix analysts, however, took the opposing view of the technology sell-off's effect on those expectations.
Notably, the technology sell-off has also reduced market expectations for a Federal Reserve rate hike in December. This suggests that the tightening effect generated by financial markets themselves could reduce the need for further monetary tightening.
US shares later rebounded as traders bought discounted technology stocks. At the time of reporting, the S&P 500 was up 0.6% and the Nasdaq Composite was up 1.2%, with SanDisk and Micron Technologies each gaining 6.3%.
Assets in US money-market funds reached a record $8.016 trillion, providing another measure of the funds held in relatively liquid vehicles while markets reassessed risk.
Bitcoin faces a weekly support test
Keith Alan, cofounder of Material Indicators, said the support level looked strong on technical and structural grounds, but cautioned against treating it as durable before the weekly close.
As strong as this support level looks from both a technical and structural perspective, we can’t confirm its durability before the W close,
Alan said bitcoin could drop to $69,000 if it failed to hold near $75,500. A recovery, he said, would require a series of higher highs and higher lows on shorter time frames.
Wider markets faced questions about whether rising energy costs would add to broader price pressures and whether slower AI investment would affect corporate financing and employment, Bitunix analysts said. They said markets could remain under pressure into 2027 as AI investment concerns and tighter financial conditions persist.
The durability of bitcoin's support near its 50-week simple moving average remains to be tested at the weekly close, Alan said.
