Bitcoin stabilized near its recent lows on November 6, 2026, following a sharp selloff the previous day that swept through cryptocurrencies and other risky assets. The largest cryptocurrency was trading at around US$75,600, down more than 6% from its position above US$80,000 on November 5. Smaller cryptocurrencies like BNB, Ether, and Solana remained broadly flat.
The selloff was influenced by lackluster chipmaker earnings and a Democratic sweep of the US Congress. A rebound in chipmakers propped up the stock market on November 6, despite economic data suggesting a potential rate hike by the US Federal Reserve in December. Dean Chen, an analyst at crypto exchange Bitunix, described the current move as selling pressure easing rather than fresh accumulation taking hold.
Crypto markets remain volatile following a US$6.3 billion hack on digital-asset exchange Binance on October 29, 2026. The broader market's volatility has been exacerbated by routs in artificial intelligence stocks, which have spilled over into crypto due to many mining companies pivoting to the AI industry. Axel Rudolph, chief technical analyst at IG, noted that the selloff reflects growing doubts over AI spending returns and tighter regulation.
Despite the broader market slide, Bitcoin has held its ground, suggesting buyers are stepping in to defend current levels. However, spot Bitcoin exchange-traded funds in the US recorded US$430 million in outflows on November 5, with the Fidelity Wise Origin Bitcoin Fund leading the pack. Samuel Leyne, co-head of crypto trading at Marex, cautioned that the recent bounce looks more like brief relief than sustained recovery, emphasizing the need for a real catalyst to bring confidence back.