Bitcoin's $378 Million Short Squeeze Faded Under $80,000. Is It Already Over?
CoinGlass said $378 million in short positions were wiped out in an hour before Bitcoin lost momentum and fell back under $76,000.
- On Thursday, November 5, 2026, Bitcoin fell below $76,000 as a broad risk-asset sell-off intensified, reversing election-week gains across global financial markets.
- A sharp deterioration in risk appetite triggered steep selling in equities, with the Nasdaq Composite Index dropping 4.2% and amplifying losses in speculative crypto assets.
- Data from CoinGlass showed the market rout wiped out $1.08 billion in leveraged positions over 24 hours, with long positions accounting for $954.38 million.
- Jordan Watson, a portfolio manager at Tandem Investment Advisors, warned "we may be headed for more volatility as investors digest the election results and potential policy implications."
- Bitcoin's breach of its 50-week simple moving average , currently at $75,733, signals technical fragility as the asset struggles to maintain post-election recovery momentum.
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96 Articles
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Bitcoin edged back into the green after a bruising selloff on Thursday swept through cryptocurrencies and other risky assets, pressured by lackluster chipmaker earnings and a Democratic sweep of Congress.
Bitcoin, which had recovered to the $80,000 range following the midterm elections, plunged more than 6% due to a sharp decline in U.S. tech stocks and uncertainty regarding U.S. policy. According to CoinMarketCap, a global cryptocurrency market data site, as of 8:30 AM on the 28th, Bitcoin was trading at $75,402, down 6.24% from the previous day. Ethereum, the second-largest cryptocurrency by market capitalization, fell 8.57% to $2,215, while XR…
Crypto Market Today, Nov. 5: Bitcoin Erases Post-Election Rally as Wall Street Suffers Worst Day in 18 Months
Cryptocurrency markets suffered steep losses on Thursday as a broad sell-off across Wall Street spilled into digital assets, triggering renewed selling pressure. Bitcoin (CRYPTO:BTC) dropped 5.65% to $75,880.60, while Ethereum (CRYPTO:ETH) tumbled 7.80% to $2,233.79. Solana (CRYPTO:SOL) declined 6.22% to $89.55, as investors retreated from riskier assets and erased much of Wednesday's post-election recovery.What's driving crypto marketsThursday'…
Reformatorisch Dagblad
Bitcoin dropped sharply in value on Thursday as the sell-off of tech stocks on Wall Street spilled over into risky investments such as cryptocurrencies. The world's largest cryptocurrency was trading for around $76,000, representing a daily loss of around 5 percent.
Bitcoin's $378 Million Short Squeeze Faded Under $80,000. Is It Already Over?
According to CoinGlass data, Bitcoin (CRYPTO: BTC) briefly surpassed $81,000 on November 4, 2026, following a short squeeze that wiped out $378 million in short positions in just one hour. However, this rally quickly lost momentum. As of now, Bitcoin is trading at $78,616, down 0.69% in the last 24 hours, and back under the […]
Crypto crash liquidates $954M in longs and $127M in shorts
Bitcoin has fallen below $76,000 on Nov. 5 as a cryptocurrency selloff has wiped out $954.38 million in leveraged long positions, pushing total 24-hour liquidations to $1.08 billion. According to CoinGecko, Bitcoin fell 5.8% over the past 24 hours to…
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