Bitcoin near $76,000 as 21 of 22 big coins fall

Measured by CryptoNakta from Binance spot data at 03:26 UTC, Nov 6 (10:26 p.m. ET, Nov 5). The 24-hour window covers the whole U.S. trading day on Thursday.

We pulled every coin on Binance that traded more than $20 million against USDT in the past 24 hours. We left out stablecoins and stock tokens. That gave us 22 coins, and 21 of them were down.

The only one up was Injective (INJ), at +4.1%. It had its own news that day, covered further down. The worst drops were Ethena (ENA) at −11.1% and Uniswap (UNI) at −10.0%. NEAR fell 8.8% and Worldcoin (WLD) fell 8.5%.

The coins that held up best were TRON (−0.3%) and Zcash (−0.9%). The two gold tokens, Tether Gold and PAX Gold, lost about 2%. Aave (AAVE) also lost only 1.9%.

The whole crypto market is worth about $2.57 trillion, according to CoinGecko. That is 7.5% less than a day earlier. Bitcoin makes up 59.2% of it.

Nasdaq drops 5.5% in chip rout, worst S&P day since April 2025

Crypto fell with tech stocks on Thursday. The Nasdaq Composite closed down 5.52% at 24,315. The S&P 500 lost 4.36%, its worst day since April 2025. The Dow dropped 3.44%, or 1,833 points. These closing figures come from the Capp Notes market recap.

Chip stocks took the biggest hit. The SMH semiconductor ETF fell 11.21%. SanDisk closed down 22.26% and Micron lost 17.46%. AMD fell 17.26% and Nvidia 9.26%.

Reports point to three reasons.

• The midterm result. Democrats won both the House and the Senate on Tuesday. Traders worry about tighter rules for AI data centers. UBS estimated that about 30% of the U.S. data center capacity expected by 2028 could be at risk (via Bitcoin Magazine). On Nov. 4, Arizona Rep. Yassamin Ansari posted on X that a pause on advanced AI development should be on the Democratic agenda on day one.
• Qualcomm. Its handset revenue fell 26% to $5.14 billion. That raised worries about demand for memory chips, according to TipRanks. Qualcomm stock fell 9.49%.
• Micron in Taiwan. Micron has largely halted work on its $4.5 billion memory plant in Taoyuan over a labor dispute (TipRanks).

Bitcoin was above $80,800 before the U.S. open. It was near $76,100 about two hours later, per Bitcoin Magazine. It was still near $75,855 when U.S. stocks closed, per Capp Notes.

Binance stock tokens: 3x chip ETF and Korea ETF lose 28%

Binance lists tokens that track U.S. stocks and ETFs, called bStocks. They trade around the clock, so they show how the stock rout looked from the crypto side.

Measured by CryptoNakta from Binance at 03:26 UTC, Nov 6. Only tokens with more than $20 million in 24-hour volume.

The two 3x leveraged ETFs lost more than a quarter of their value in a day. The South Korea fund fell as hard as the chip fund. Korea’s market leans heavily on Samsung and SK Hynix. TipRanks reported SK Hynix fell nearly 9.5% in Seoul on Thursday and Samsung more than 7.5%.

The token prices do not match the closing prices exactly. They keep trading after the bell. We explain how these tokens work and what you actually own in our Binance stocks guide.

About $1 billion in liquidations, mostly longs, a day after a short squeeze

About $1.08 billion in leveraged crypto bets were wiped out in 24 hours, FXStreet reported. Nearly $953 million of that was long positions, meaning bets that prices would rise. Close to $900 million went in the first four hours after the U.S. open.

Bitcoin Magazine counted about $370 million in liquidations within roughly one hour. Most were longs.

The day before had gone the other way. On Wednesday, about $450 million in short bets were liquidated as prices jumped, CoinDesk reported. About $300 million of that was bitcoin shorts. Bitcoin Magazine said that squeeze drew in late buyers using borrowed money. Their positions were the first to go on Thursday.

A liquidation often happens before the chart touches your liquidation price. Our liquidation guide shows why the margin ratio is the real trigger.

Fear & Greed Index falls from 50 to 28 in one day

Source: alternative.me Crypto Fear & Greed Index. 0 is extreme fear and 100 is extreme greed.

The index jumped from 34 to 50 after Wednesday’s rally. One day later it was back at 28. That is close to the Election Day low of 26.

Bitcoin ETFs took in $74.6 million Wednesday as IBIT saw outflows

The latest full day of data is Wednesday, Nov. 4. U.S. spot bitcoin ETFs took in a net $74.6 million that day. It ended three days of outflows.

Source: TFTC bitcoin ETF flow tracker. Thursday’s numbers had not been posted when we checked at 03:30 UTC, Nov 6.

The funds did not move together on Wednesday. Fidelity’s FBTC took in $236.7 million. BlackRock’s IBIT lost $201.2 million and was the only fund with an outflow.

Spot ether ETFs added $53 million the same day, according to BitPush data carried by KuCoin News. BlackRock’s ETHA led with $32.8 million.

Thursday’s flows will show whether ETF buyers stepped in or stepped out during the selloff. If you are weighing an ETF against holding coins yourself, we measured the difference over a full year.

Jobs report today, Fed hike odds near 67% for December

The October jobs report comes out today, Friday, Nov. 6. Bloomberg economists expect 65,000 new jobs and a 4.2% unemployment rate, Yahoo Finance reported.

Traders see about a 67% chance that the Fed raises rates by a quarter point in December, per CME FedWatch. The Fed’s next decision is on Dec. 9. October inflation (CPI) is due Nov. 10.

Thursday brought a strong labor number. Weekly jobless claims fell to 189,000. Bitcoin Magazine said that cut into hopes for easier Fed policy.

Other markets moved too, per Capp Notes. The 10-year Treasury yield fell about 6 basis points to 4.84%. The VIX fear gauge jumped 69.7% to 28.18. Gold rose 0.6% to about $4,098 an ounce. Brent crude climbed 3.8% to $98.29 on Iran supply worries.

Overseas, the Bank of England raised its rate by a quarter point to 4.00%.

Coinbase falls almost 10%, Strategy and Circle tokens down too

Coinbase stock closed down 9.69% on Thursday, per Capp Notes. On Binance, the token tracking Strategy (MSTR) was down 10.4% over 24 hours. The Circle token was down 9.9%.

Strategy’s Michael Saylor called it a “4σ day for equities” on X. He pointed out that STRC, Strategy’s preferred stock, closed at $99.56. That is 44 cents under its $100 stated value, per Bitcoin.com News.

Bitcoin.com News also measured bitcoin’s fall from Wednesday’s peak of $81,105 to $76,059. That is about 6.2%.

Washington: CLARITY Act expected to stall after Democratic sweep

The CLARITY Act is the crypto market structure bill. It was already stuck in the Senate. Analysts told CNBC they expect it to stay stuck after the Democratic sweep.

• TD Cowen’s Jaret Seiberg said he does not see the bill moving in the next two years.
• Charles Schwab’s Mike Townsend expects Democrats to push a version that is tougher on crypto companies next year.
• Coinbase’s Kara Calvert said the incoming Congress has a record number of pro-crypto members. “Crypto is 100% bipartisan,” she said.

Stand With Crypto counted 19 pro-crypto winners in the Senate against 8 opposed. In the House it counted 228 against 106. Those counts were as of Thursday morning. The crypto industry spent more than $200 million on the midterms, CNBC reported. Its biggest super PAC, Fairshake, won 29 of the 34 races it spent on, according to Reuters.

Stablecoins already have their own law, the GENIUS Act, passed in July 2025. The election does not change that.

Binance names 58 more withdrawals to reopen, Ethereum mainnet ETH and USDT still closed

Binance posted Recovery Update #9 at 03:06 UTC on Friday. Withdrawals for 58 coin-and-network pairs on 9 networks start reopening at 04:00 UTC. Binance said they will not all open at once.

• BSC (28 coins): USDe, Pendle, LayerZero (ZRO), WLFI, SUI, The Sandbox (SAND), Decentraland (MANA) and others
• Ethereum (6): XRP, CAKE, Wormhole (W) and more
• Base (7), Arbitrum (5), Optimism (4), Polygon (4), Avalanche C-Chain (2)
• TRON: U · Sui: FDUSD

We checked Binance’s public withdrawal status data ourselves at 04:12 UTC, 12 minutes after the start time. Only 3 of the 58 pairs showed as open: ETH on Optimism, and MORPHO and VIRTUAL on Base. Those three were already open before 04:00. The other 55 still showed withdrawals off.

Measured by CryptoNakta from Binance’s public network status data at 04:12 UTC, Nov 6. Two pulls gave the same result.

So if you hold ETH, USDT or USDC on Binance, the network you pick matters right now. Ethereum mainnet withdrawals for all three were still off at our check.

Two days earlier, Binance said it had refilled about 98% of the stolen amount. Its new proof-of-reserves snapshot covers 44 tokens, up from 10. Binance said building the proof would take about 50 to 60 hours. After that, users can check that their own balances are backed at least 1:1.

As of 03:30 UTC Friday, Binance had not posted a notice saying the self-check was live. Our proof-of-reserves guide walks through how to verify your balance once it opens. For why withdrawals stopped and how to track each reopening, see our Binance hack guide.

FBI ties the $6.3 billion Binance theft to North Korea’s TraderTraitor

The FBI and the blockchain analysis firms Chainalysis and TRM Labs have tied the $6.3 billion Binance theft to TraderTraitor. That is a North Korean hacking group. CoinDesk laid out the case on Thursday.

Binance security chief Jimmy Su described how it started. In September, someone posing as a project director contacted a Binance software engineer. After fake job interviews, the engineer ran a coding test that carried malware. The attackers then used that machine and an internal AI tool to get into the exchange.

Chainalysis said its strongest evidence is that the Binance funds were mixed with money from the roughly $388 million Bitget hack in September. It had tied that hack to North Korea too. North Korea denies any role.

Trump Media wallets send 4,259 BTC to Crypto.com

Two wallets tied to Trump Media sent about 4,259 BTC to Crypto.com on Thursday. The transfers were 2,140 BTC and 2,119 BTC. That was worth about $344 million at the time, The Coin Republic reported.

Lookonchain spotted the move first. Arkham labels both wallets as collateral for the company’s 2028 convertible notes. The amount almost matches the 4,260.73 BTC the company pledged in its SEC filing.

Moving coins to an exchange does not prove they were sold. No sale had been confirmed when the report ran. Trump Media has described earlier moves like this as custody or trading management.

Also today: Injective ETF debuts, Base cuts block time to 0.2 seconds

• First staked Injective ETF lists. Canary’s Staked INJ ETF began trading on Nasdaq under the ticker INJC on Thursday. It charges a 1.10% yearly fee and plans to stake at least 90% of its INJ (24/7 Wall St.). INJ was the only big coin on Binance that was up over 24 hours in our check.
• Base speeds up. Coinbase’s Base network turned on its Denim upgrade on Thursday. It now makes a block every 200 milliseconds, five per second. Apps that used the old Flashblocks feed need to switch to regular blocks (The Block).
• Kraken’s parent buys AAVE. Payward bought an undisclosed amount of AAVE tokens on the open market through an affiliated fund. It said it may buy more (Yahoo Finance).
• A $133 million theft in Europe. On-chain investigator ZachXBT traced more than $133 million taken from accounts at several crypto exchanges on Nov. 1. He named the French bank Crédit Mutuel Arkéa as the victim. The bank confirmed a cyberattack on Nov. 4 and said customer assets were not affected. It has not confirmed an amount.

Waiting on a withdrawal from any exchange today? Our pending withdrawal guide shows how to tell where your coins are.

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