Bitcoin Falls Below $76K as ETF Outflows and Liquidations Rise

Bitcoin dropped below $76,000 on November 5 as a sharp sell-off in US technology and semiconductor stocks spread across cryptocurrency markets. The decline was accompanied by more than $1 billion in leveraged crypto liquidations and $430.2 million in net withdrawals from US spot Bitcoin exchange-traded funds (ETFs).

The sell-off extended into Friday morning, with Bitcoin trading near $75,700 on Binance, according to Coinspeaker's market report. Ethereum, XRP and Solana also recorded significant losses, while the Crypto Fear & Greed Index moved deeper into the fear zone.

The latest correction highlights how closely digital assets remain connected to technology stocks, institutional investment flows and broader investor risk appetite.

Key Highlights

• Bitcoin fell approximately 6% below $76,000 during Thursday's sell-off.

• US spot Bitcoin ETFs recorded $430.2 million in net outflows on November 5.

• More than $1.03 billion in crypto derivatives positions were liquidated over 24 hours.

• The Philadelphia Semiconductor Index dropped 12.2%, while the Nasdaq declined 5.5%.

• Bitcoin closed Thursday at $76,088, below its 200-day exponential moving average (EMA) of $76,536.

1. Technology Stock Sell-Off Spreads to Crypto

The immediate pressure came from Wall Street, where semiconductor and technology shares experienced a significant decline.

The Philadelphia Semiconductor Index fell 12.2% on November 5. Nvidia shares dropped 9.3%, while AMD declined 17.3%. The Nasdaq Composite lost 5.5%, and the Nasdaq 100 fell 6.4%.

Market coverage linked the technology sell-off partly to uncertainty surrounding the US midterm election outcome and its possible implications for AI infrastructure investment and regulation.

Bitcoin followed the broader risk-off movement. Coinspeaker reported that BTC fell from approximately $80,547 at the beginning of Thursday to around $75,700 on Friday morning.

Other major cryptocurrencies also weakened:

• Ethereum: $2,218, down 8.2%.

• XRP: $1.18, down 9.7%.

• Solana: $89.22, down 6.9%.

These are historical price snapshots from the report, not live market quotations.

2. More Than $1 Billion in Leveraged Positions Liquidated

The decline accelerated as leveraged traders were forced to close positions.

CoinGlass data cited by Coinspeaker showed approximately $1.03 billion in crypto derivatives liquidations over 24 hours. Long positions accounted for $924.94 million, representing approximately 89.4% of the total, across 199,365 traders.

Bitcoin long liquidations reached $255.88 million, while Ethereum long liquidations amounted to $163.83 million.

When leveraged traders use borrowed exposure to bet on rising prices, a sharp decline can push their margin below required levels. Exchanges then automatically close positions, potentially creating additional selling pressure.

This process can amplify market volatility, particularly when liquidity is limited.

3. Bitcoin ETFs Record $430.2 Million in Outflows

Institutional investment flows added another layer of pressure.

US spot Bitcoin ETFs recorded $430.2 million in net outflows on November 5, according to SoSoValue figures cited by Coinspeaker. None of the 12 funds recorded positive net flows that day.

The largest withdrawals included:

The withdrawals reversed the previous session's $74.6 million inflow. Coinspeaker reported that November's first four trading sessions accumulated $869.8 million in net outflows, following $515.9 million in withdrawals during October.

ETF outflows indicate net redemptions from these investment products, but they do not necessarily mean every investor is abandoning Bitcoin or that all withdrawn capital is leaving the wider crypto market.

4. Bitcoin Technical Levels Come Under Pressure

Bitcoin's technical structure weakened after its Thursday close at $76,088, below its 200-day EMA of $76,536.

The 50-day EMA was positioned higher at $79,822, creating an additional recovery hurdle.

The levels highlighted in Coinspeaker's technical analysis are:

• First support: $74,968.

• Next downside reference: $72,598.

• 200-day EMA: $76,536.

• 50-day EMA: $79,822.

• Higher resistance reference: $81,971.

A sustained move above the 200-day EMA could improve the short-term technical picture. Conversely, a daily close below $74,968 could expose the lower $72,598 level.

These are technical reference points, not guaranteed price targets.

What Happens Next?

Investors will monitor whether US technology stocks stabilise and whether Bitcoin can recover its 200-day EMA.

ETF flows will also be important. A return to consistent inflows could indicate improving institutional demand, while continued withdrawals may reinforce concerns about market sentiment.

The US employment report scheduled for November 6 is another macroeconomic event to watch because labour-market data can influence expectations for Federal Reserve interest-rate policy.

Final Takeaway

Bitcoin's decline below $76,000 reflects a combination of technology-stock weakness, leveraged liquidations and institutional ETF withdrawals.

The data suggests that the latest correction is not simply a cryptocurrency-specific event. Broader financial-market uncertainty is influencing investor behaviour across several asset classes.

Whether Bitcoin stabilises will depend on the return of spot demand, ETF flows and improved risk appetite.

Disclaimer: This article is for informational and educational purposes only and does not constitute financial or investment advice. Coinccino does not provide buy or sell signals.