A sharp bitcoin selloff hit Thursday, Nov. 5, 2026, as Bitcoin gave back Wednesday’s post-election bounce while Nasdaq tech shares came under heavy pressure.
Bitstamp data showed BTC falling from a Nov. 4 peak of $81,105 to as low as $76,059 — roughly a 6.22% slide — before tapping an intraday low near $75,468.
Selling accelerated around 10 a.m. Eastern time as semiconductor names led the equity weakness.
For Bitcoin investors, the most interesting development is how quickly leveraged longs were flushed, resetting crowded positioning after the midterm relief rally.
The bigger question now is whether the $75,600–$76,000 zone can absorb this wave and set up the next reclaim toward $80,000.
What Triggered Thursday’s Bitcoin Selloff?
Market data points to a classic risk-off session rather than a Bitcoin-specific breakdown.
Qualcomm fell about 10% in premarket trading after weak smartphone chip sales, while Nvidia, Intel and other chip names also faced major selling pressure.
The Nasdaq Composite opened roughly 0.7% lower, then lost about 4% by mid-morning.
The S&P 500 slid close to 3%, and the Dow turned lower after a mixed open.
Bitcoin often trades alongside speculative tech during these windows, so the simultaneous drop was no surprise.
We believe that linkage cuts both ways: when tech stabilizes, BTC frequently finds buyers again at the same support bands that held earlier in the week.
How Deep Was the Leverage Flush?
Coinglass data showed $838.54 million in cryptocurrency liquidations over the prior 24 hours, hitting 166,904 traders.
Long positions absorbed $741.04 million, or 88.4% of the total, while shorts accounted for the rest.
Bitcoin led individual assets with $213.31 million in liquidations, followed by ethereum at $122.13 million.
In one hour around 10:30 a.m. ET alone, roughly $554.66 million in positions were wiped out, including $520.29 million in bullish bets.
Binance accounted for about 46.8% of liquidations by exchange.
For us, that kind of long flush is constructive: it removes fragile leverage and leaves a cleaner base for spot demand.
As we covered when Bitcoin ETF inflows hit $75 million, regulated buying can reappear quickly once forced sellers are gone.
Why Did the Post-Election Rally Fade So Fast?
Wednesday told a different story.
After Democrats’ midterm sweep on Nov. 3, equities rallied on political clarity, and Bitcoin recovered from below $76,000 toward the $81,000 neighborhood.
That relief proved short-lived once AI infrastructure spending and data-center regulatory worries returned to the tape.
Crypto markets also entered the session with lingering caution around the late-October Binance security incident as market backdrop.
Still, Bitcoin’s ability to reclaim ~$81,000 within a day of the election showed underlying resilience.
We would look for that same rebound pattern if equity volatility cools into the weekend.
What Are Analysts Watching After the Dip?
Cycle analyst Bob Loukas framed Wednesday’s bounce constructively while noting the work still needed:
“A good move my Bitcoin today post election, but it will need a big push to get away from what appears to be an intermediate (weekly Cycle) decline that’s taken hold.”
That read fits Thursday’s action: a healthy post-election lift, then a test of whether buyers can force a stronger break higher.
We believe dips that flush leverage inside a broader cycle reset often become the zones patient holders prefer.
Separately, Loukas also flagged caution on equities dips after months of sideways action — a reminder that Bitcoin’s path can diverge once liquidations clear.
Where Are the Key Bitcoin Levels Now?
The immediate technical picture centers on two zones.
Support sits around $75,600–$76,000, where buyers previously helped reverse Wednesday’s decline.
With Bitstamp printing $76,059 and later $75,468, that band is being tested in real time.
Resistance spans $80,000–$81,105, the area Bitcoin struggled to hold after the election bounce.
A reclaim of $80,000 would need roughly a 5–6% advance from the session lows, depending on the exact print.
Neither level guarantees a reversal, but they give traders a clear map.
We would also watch Nasdaq stabilization, semiconductor leadership, and fresh spot ETF flow prints for confirmation that risk appetite is returning.
Could This Bitcoin Selloff Set Up the Next Leg Higher?
Volatility like Thursday’s is uncomfortable in the moment, yet it is how Bitcoin markets periodically clear excess leverage.
The same asset that fell ~6% from $81,105 also reclaimed that territory only a day earlier after the midterms — evidence of two-way liquidity, not a broken market.
Institutional rails keep expanding as well.
As we noted when Samsung added a USDC wallet, mainstream payment and custody rails continue to broaden the on-ramp for digital assets.
Self-custody discipline also matters in choppy sessions, a theme we highlighted after Binance’s recent API access changes.
For us, the key takeaway is simple: Bitcoin’s fixed supply, growing ETF infrastructure and expanding mainstream access remain intact after a leverage flush.
The coming sessions will reveal whether $75,600–$76,000 holds as the springboard.
And if Bitcoin reclaims $80,000–$81,105, investors may begin looking beyond this reset toward the next upside phase.
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