Circle Sinks 12%, Coinbase and Strategy Tumble 10% as Bitcoin Slide Hits Crypto Stocks
More than $1 billion in crypto derivatives positions were liquidated as leveraged bets unraveled and Bitcoin-linked stocks, including Coinbase and Strategy, dropped sharply.
- On Thursday, November 5, Bitcoin fell below $76,000, sliding to intraday lows around $75,463 as a broad market sell-off reversed recent post-election gains.
- A sharp deterioration in risk appetite across global markets prompted the rout, with the Nasdaq Composite Index plunging and forcing investors to rotate out of speculative assets.
- CoinGlass reported $1.08 billion in total crypto liquidations over 24 hours, with long positions accounting for $954.38 million—88.2% of losses—intensifying downward pressure.
- Coinbase and Circle plunged between 10% and 15% as the sell-off spilled into crypto-linked equities, with Circle's recent analyst upgrade and earnings beat overwhelmed by sector weakness.
- Crypto trader Rekt Capital noted the current dip mimics May patterns that preceded macro lows of $57,000, signaling potential for deeper correction if the historical parallel holds.
112 Articles
112 Articles
For the first time since September 15.
The bitcoin widens the losses this Friday (6), still reflecting the sharp fall of technology actions in the United States on the eve. This morning, with a .payroll . (U.S. employment report) well above expected, increased the bets of a new high of interest by the Federal Reserve (Fed) in December. Around 12h, the bitcoin fell 4.8% in 24 hours, to US$ 75,367.83, according to CoinGecko. In Brazil, it was negotiated R$ 414,058.48, with a drop of 3.…
Bitcoin Selloff Eases as Investors Explore Cautious Recovery
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'…
Coverage Details
Bias Distribution
- 47% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
