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Bitcoin’s Tough Day: What Triggered the Sell-Off?
A Sudden Drop Across the Board
If you checked on Bitcoin on November 5, 2026, you probably noticed something pretty startling. Prices took a sharp tumble, and the market was buzzing with activity. Bitcoin’s price fell from around $80,644 to as low as $75,463 in just 24 hours. Folks who follow crypto closely haven’t seen this kind of drop since mid-September.
But this wasn’t just a random crash. There were a ton of factors driving this movement, and it wasn’t only about what was happening in the crypto world. Stocks, tech, oil pretty much everything was getting hit at the same time.
Wall Street Chaos Spills Into Crypto
Let’s start with the stock market. The Nasdaq Composite Index dropped by more than 5%, and semiconductor companies fell even harder. This panic started because of fresh US regulations that could affect data centers and AI technology. The fear was so big that people rushed out of risky assets, pulling money out of not just stocks but crypto too.
When tech big-league players like Nvidia, CoreWeave, and SpaceX saw their bonds plummet, the pain spilled over to digital assets. Investors needed to cover their losses, so they started selling off Bitcoin and other cryptos fast.
How High Yields and Oil Prices Made Things Worse
On top of everything, US Treasury yields jumped above 5%. That means people could earn more money just holding government bonds than taking a gamble on crypto. Plus, international oil prices shot up by over 4% now $108.80 a barrel. The cost of everything went up, and riskier assets like Bitcoin looked a lot less attractive.
The Derivatives Snowball
While all this was happening, traders using leverage (borrowing money to make bigger bets) got hit hard. About $380 million in long positions were forcibly liquidated that’s basically when big bets on price increases failed and had to be closed out, pushing prices down even more. Derivatives exchanges saw negative funding rates, hinting at short sellers taking control.
Bitcoin Holders Stay Firm Despite the Volatility
Even as prices dropped, most Bitcoin holders weren’t quick to panic. Around 75.9% of the Bitcoin supply stayed locked up in wallets that tend not to sell. Centralized exchanges had low reserves about 2.06 million Bitcoins so there weren’t as many coins available for rapid sell-offs by big players.
Breaking Down Bitcoin’s Performance: A Closer Look
Numbers That Stand Out
Here’s what the market looked like throughout November 5:
- Bitcoin traded between $75,463 and $80,644.
- In Indian Rupees, that’s between ₹7,139,195 and ₹7,626,971.
- During the day, the price fell by between 5.44% and 5.76%.
- Trading volume on spot exchanges reached about $42.8 million.
- Bitcoin continued to dominate the digital asset market, with its share rising to nearly 60%.
- Market capitalization dropped to around $1.50 trillion.
There was a brief spike at the start of the Asian trading session, but as US trading picked up, the mood changed. Sellers swamped the market, and Bitcoin crumbled to its lowest point by late afternoon, before settling just above $75,900.
The Bigger Picture: Market Drivers
There were four main things dragging Bitcoin down:
- Wall Street tech stocks crashed, and the shock hit everything else including crypto.
- Bond yields rose above 5%, and oil prices soared. That spelled trouble for growth assets like Bitcoin.
- Lots of leveraged traders got wiped out, adding more downward pressure.
- Despite the chaos, long-term Bitcoin holders stayed quiet and didn’t panic sell.
Why the US Elections Were a Game Changer
Post-Election Jitters and Regulatory Fears
One big reason for Thursday’s chaos was fallout from this year’s US midterm elections. When politicians started talking about tightening rules on AI and data centers, Wall Street freaked out. Suddenly, everyone was worried about antitrust investigations and limits on energy consumption for giant tech firms. That spilled over to credit markets, with tech companies’ bonds sinking.
In turn, investors pulled out of digital assets to protect themselves. As tech stocks fell, Bitcoin followed the same downward path, erasing the earlier gains from the election buzz.
Higher Yields and Expensive Oil: Making Bitcoin Less Attractive
Bond Yields Hit New Heights
The 10-year US Treasury yield spiked to 5.045%. That’s a big jump. When bond yields go up, people are more likely to park their cash in safer places. Risky assets like Bitcoin suddenly feel less appealing.
Oil Prices Jump
Brent crude oil was up 4.26%, hitting $108.80 a barrel. Middle Eastern supply issues and fears of shipping delays were behind the rise. This created more pressure on the global economy, making investors extra cautious.
Derivatives and Bitcoin Holders: Who Flinched?
Derivatives Liquidations Set the Tone
The derivatives market added fuel to the fire. With perpetual swaps showing negative rates, it was clear short sellers were calling the shots. The $380 million in long liquidations meant a lot of traders got burned, and prices kept dropping.
Long-Term Holders Stand Their Ground
Surprisingly, while liquid traders were forced out, folks holding Bitcoin for the long term didn’t panic. Exchange reserves stayed low, and on-chain data confirmed most coins remained in illiquid wallets. These holders are clearly betting that things will turn around.
Technical Signals: Support Levels and Resistance Zones
Breaking Through Key Levels
On the technical side, Bitcoin lost important support levels. The 20-day and 50-day exponential moving averages around $79,800 and $80,000 were broken. Bitcoin dropped under the $78,000 mark, right down to the 50-week simple moving average at $75,733. The lowest point for the day was $75,463.
The Relative Strength Index (RSI) fell to 38.2, showing Bitcoin was oversold. That usually suggests the market could bounce back soon, but only if buyers step in.
What Should You Watch For?
- Resistance now sits at $80,064, the 50-day EMA.
- Overhead ceilings at $79,834 (20-day EMA).
- The trend floor is at $75,733 (50-week SMA).
- The major support levels are at $75,463 and $72,500.
If Bitcoin can reclaim the $79,800–$80,000 zone, the bulls might regain momentum. But a daily close below $75,733 risks more downside, possibly toward $74,891 or even $72,500.
Network Health: Mining and Transactions Remain Steady
Mining Power Holds Up
Despite falling prices, Bitcoin’s network hash rate stayed strong about 708 Exahashes per second. Mining difficulty remained high, keeping the network secure. Transaction fees were stable, usually around $2.10 to $2.85 per transfer. Layer-2 solutions like the Lightning Network kept payments fast and cheap.
Looking Ahead: What Comes Next?
Possible Scenarios for Bitcoin
As Bitcoin opens trading at $75,920 after Thursday’s turmoil, people keeping an eye on the market have three main scenarios in mind:
Bearish Breakdown: If selling continues and Bitcoin drops under $75,463, it could test support at $74,891 or even $72,500.
Base Consolidation: If the market stabilizes, Bitcoin might trade sideways between $75,733 and $79,834.
Bullish Recovery: If tech stocks rebound and bond yields drop below 5%, Bitcoin could recover to $79,834 or even push up toward $81,882 and $84,000.
Main Takeaways: What Should You Remember?
- Bitcoin’s price fell sharply on November 5, dragged down by problems in stocks, bonds, and oil, plus derivatives liquidations.
- Long-term holders stayed calm, keeping most coins locked up.
- Important technical levels were broken, making recovery an uphill task.
- Network health stayed solid, even with price volatility.
- The next moves will depend on what happens in tech stocks, bond yields, and global markets.
Final Thoughts
This was a wild day for Bitcoin, and the aftershocks will probably last a while. Whether Bitcoin bounces back or keeps falling will depend on how Wall Street reacts, what happens in the bond and oil markets, and whether big holders stay committed. If you’re watching crypto, these are the numbers and events to keep your eye on.
Remember, this is just a report based on what happened on November 5, 2026 always do your own homework before betting on risky assets like Bitcoin. The story is far from over.
