A sharp bitcoin dip pushed BTC below $76,000 on Nov. 5, 2026, as leveraged longs were flushed across crypto markets.
Data from CoinGecko showed Bitcoin down about 5.8% over 24 hours to roughly $75,954, while Ethereum fell 7.5% to $2,251 and Solana lost 7.9% to about $89.16.
CoinGlass figures put 24-hour liquidations near $1.08 billion, with $954.38 million of that hitting long positions — about 88% of the total — across more than 210,000 traders.
For Bitcoin investors, the most interesting development is how quickly crowded leverage was cleared after the brief reclaim above $80,000, while U.S. spot Bitcoin ETFs had just flipped back to net inflows a day earlier.
The bigger question now is whether this bitcoin dip is a healthy reset inside a broader cycle, or simply noise before the next attempt at $80,000.
What Drove Bitcoin Below $76,000?
The move followed an earlier recovery that had lifted Bitcoin back above $80,000 after election-week lows.
That bounce reversed as risk assets sold off together.
The Nasdaq Composite fell about 4.7% in Thursday trading, while the S&P 500 lost roughly 3.5%.
Semiconductor and AI-linked names led the weakness, with Nvidia down about 7.5% and AMD off roughly 14.6%.
Crypto equities moved with that tape: Coinbase slid about 10.6% to $135.50, Strategy fell about 10.1% to $128.11, and several miners posted double-digit losses.
We believe the linkage still cuts both ways — when speculative tech stabilizes, Bitcoin often finds bids again at the same support bands that held earlier this week.
As we covered when stocks neared circuit-breaker talk, risk-off equity sessions frequently amplify crypto volatility without rewriting Bitcoin’s longer-term adoption story.
Why Is Bitcoin Down as Stocks Near Circuit Breakers? remains useful context for that equity–BTC connection.
How Severe Was the Leverage Flush?
CoinGlass data showed longs accounting for $954.38 million of liquidations versus $127.30 million in shorts.
Roughly $896 million of the wipeout clustered in a four-hour window, including about $817 million in longs.
Bitcoin positions alone saw about $280.65 million liquidated, with nearly 90% of that on the long side.
Ethereum followed with roughly $174.86 million, and Solana about $37.62 million.
The largest single hit reported was a $10.94 million ETHUSDT long on Binance, which accounted for nearly half of exchange-reported volume.
That scale of forced selling is painful in the moment, yet it often clears weak hands and reduces the fuel for the next cascade.
We would look for follow-through selling to ease once open interest resets and spot buyers step into the $75,700–$76,000 zone.
Our earlier note on the broader liquidation wave framed a similar flush as a glass-half-full setup for medium-term holders.
Crypto Liquidations Top $1 Billion: Is Bitcoin’s Glass Still Half Full? tracks that constructive read.
What Does Analyst Bob Loukas See in the Bitcoin Cycle?
Cycle analyst Bob Loukas addressed the wave of questions around Bitcoin’s four-year pattern as prices slipped.
He wrote that he views the cycle low as already in, even while the weekly cycle remains in decline.
In his words: “Lot of questions on Bitcoin’s 4yr Cycle. I’m of the view the cycle low is well in. But the weekly Cycle is in decline. Any drop over the next few months is part of that process and back-filling.”
That framing treats near-term weakness as back-filling inside a larger bull structure rather than a fresh bear market start.
We believe that distinction matters for long-term holders: volatility can stay elevated while the higher-timeframe thesis stays intact.
If the weekly decline is the working assumption, dips toward prior lows can be absorbed as positioning resets instead of trend breaks.
Do ETF Flows Still Support a Constructive Bitcoin Dip?
Before Thursday’s reversal, U.S. spot Bitcoin ETFs had returned to net inflows, drawing about $74.6 million on Nov. 4 after three sessions of withdrawals.
Fidelity’s FBTC took in roughly $236.7 million that day, while BlackRock’s IBIT saw about $201.2 million in outflows — a mixed issuer picture, but a net positive for the complex.
That inflow print arrived just as price reclaimed the $80,000 area, then gave way when equities cracked.
Technically, the daily chart had placed the lower Bollinger Band near $76,059, close to the week’s $75,736 low, with the 20-day moving average around $80,139 and resistance near $81,000–$82,000.
A reclaim of the 20-day average would put roughly a 5% advance back on the table from the $76,000 handle.
Gold held gains near $4,095 an ounce as the dollar and yields eased — a reminder that capital still seeks hard assets even when crypto and tech sell together.
We would watch Nasdaq stabilization, DXY, Treasury yields, ETF flow prints, and whether spot volume returns on green hours.
Can Bitcoin Reclaim $80,000 After This Reset?
The path higher is straightforward on the chart, even if timing is not.
First, hold the $75,600–$76,000 band that framed the week’s lows.
Next, rebuild above the mid-$78,000s and challenge the 20-day average near $80,100.
A sustained move through $81,000–$82,000 would reopen the post-election relief highs.
None of those levels is guaranteed — they are waypoints we would look for as leverage cools and risk appetite returns.
For us, the key takeaway from this bitcoin dip is that forced long liquidations and a correlated equity selloff explain most of the damage, while cycle commentary and fresh ETF inflows keep the constructive case alive.
Bitcoin’s fixed supply, expanding spot ETF infrastructure, and institutional custody rails did not disappear when price tagged $76,000.
As we noted when Keel Infrastructure exited a mining-linked Bitcoin treasury, secondary selling can still be absorbed when longer-term demand remains intact.
Keel Infrastructure Bitcoin Sale: What Does It Mean for BTC? is another example of supply hitting the market without ending the bull case.
The coming days will reveal whether $76,000 becomes a springboard.
And if Bitcoin reclaims $80,000 with calmer open interest, investors may begin looking beyond this reset toward the next cycle advance.
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