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Bitcoin selloff triggers more than $1 billion in crypto liquidations

Bitcoin selloff triggers more than $1 billion in crypto liquidations

by | Nov 6, 2026 | Altcoin

The Bitcoin selloff pushed the cryptocurrency below $76,000 on Thursday, with more than $1 billion in leveraged crypto positions liquidated as technology stocks fell, CryptoSlate reported. Bitcoin touched $75,568 before recovering to $76,830.67 at the time of the outlet's report.

The losses fell mainly on traders positioned for prices to rise: CryptoSlate reported that bullish bets accounted for nearly 89% of liquidations. ForkLog, citing CoinGlass, put the 24-hour liquidation total at $1.25 billion and said more than 239,000 traders were affected.

The Bitcoin selloff followed a recovery above $80,000 after the U.S. midterm elections, according to ForkLog. CryptoSlate and Yahoo Finance Australia reported that the retreat in technology shares spread into crypto markets.

Leveraged positions bear losses

Altcoin Buzz reported a separate 24-hour tally of $954.38 million in long liquidations, or 88.2% of the total, compared with $127.30 million in short positions. The outlet said the figures covered 210,326 traders.

The outlets did not report the same 24-hour totals. Altcoin Buzz said liquidation data compiled by CoinGlass are presented over different windows and that levels can vary between snapshots.

A large portion of the losses occurred over a shorter period, Altcoin Buzz reported: $817.35 million of the $896.18 million liquidated in one four-hour window came from long positions. The outlet put the total for a 12-hour window at $982.43 million.

Bitcoin positions accounted for about $281 million in liquidations, followed by roughly $175 million in Ethereum positions and nearly $38 million in Solana positions. The largest single liquidation was a $10.94 million ether long position on Binance.

Bitcoin selloff erases election rebound

Bitcoin.com News reported that bitcoin climbed to $81,105 on Wednesday after trading around $75,618, and then remained close to $80,000 for much of the time that followed. Selling then accelerated on Thursday morning as technology stocks weakened, the outlet said.

Reported lows differed. CryptoSlate put Thursday's low at $75,568, while Bitcoin.com News said Bitstamp recorded $75,468 by 10:55 a.m. Eastern time; Yahoo Finance Australia cited a low near $75,100. Altcoin Buzz cautioned that precise levels changed by the minute and differed across snapshots.

The Bitcoin selloff also followed a change in flows into U.S. spot bitcoin exchange-traded funds. Altcoin Buzz reported that the funds took in a net $74.6 million on Wednesday, ending three days of outflows, with Fidelity's FBTC leading inflows while BlackRock's IBIT saw withdrawals.

Earlier in the week, U.S. spot bitcoin ETFs recorded $398.6 million in net outflows on November 2, according to Crypto Briefing. The outlet said $405.3 million left IBIT alone, a figure exceeding the net outflow across the funds.

Technology shares retreat

Reports also differed on the size of the Nasdaq Composite's decline. CryptoSlate and ForkLog put the loss at 4.9% and said the index entered correction territory, more than 10% below its October record; Altcoin Buzz reported a 4.7% drop.

For the S&P 500, CryptoSlate reported a 3.2% decline, while Altcoin Buzz put the loss at 3.5%. ForkLog said Nvidia fell 9.3% and AMD lost about 17%, as semiconductor shares came under pressure.

ForkLog reported that the Bitcoin selloff spread to other cryptocurrencies, with Ethereum falling more than 8% to roughly $2,200. Coinbase and MicroStrategy shares also declined more than 10% during trading, according to the outlet.

The retreat came after Democrats won control of both chambers of Congress, ForkLog reported. The outlet said markets initially rallied on November 4, before attention shifted in the next session to what the election result could mean for the artificial intelligence industry.

Data center spending and policy

ForkLog reported that investors had been questioning whether technology companies could recover their AI spending, while companies continued to invest in computing centers, accelerators and energy infrastructure. The outlet said potential oversight of AI development and data center construction was among the issues facing the new Congress.

In Texas, ForkLog reported, Democrat Gina Hinojosa won the gubernatorial election after proposing during her campaign that construction of new data centers be paused until a state legislative session adopted measures to protect local residents. Hinojosa said, according to ForkLog, "Texans are being exploited in a big way by corporations that operate without any rules".

Hinojosa said data centers "suck up all our water and all our electricity." ForkLog reported that she also proposed requiring companies to demonstrate that projects would not increase household water and electricity bills.

The discussion concerned possible restrictions, not an enacted nationwide construction ban, ForkLog reported. The outlet cited a UBS estimate that delays could affect approximately 30% of additions to U.S. data center capacity that are planned for the year 2028.

Conclusion

Bitcoin recovered from its reported Thursday low but remained below the level reached after the election, according to CryptoSlate and ForkLog. Leveraged long positions accounted for most of the crypto liquidation losses, CryptoSlate reported, although outlets published different 24-hour totals. Beyond the market figures, ForkLog reported that Hinojosa had called for a halt to new Texas data centers until a state legislative session could adopt protections for residents. ForkLog said the wider discussion concerned potential restrictions, rather than an enacted nationwide ban.

Frequently Asked Questions

How low did Bitcoin fall on November 5?

CryptoSlate reported that bitcoin reached $75,568 on Thursday before recovering to $76,830.67 at the time of its report. Other reported lows differed: Bitcoin.com News cited $75,468 on Bitstamp, while Yahoo Finance Australia put the low near $75,100.

How much was liquidated during the Bitcoin selloff?

ForkLog, citing CoinGlass, reported $1.25 billion in crypto liquidations over 24 hours, affecting more than 239,000 traders. CryptoSlate reported more than $1 billion in liquidations. Altcoin Buzz said CoinGlass data are reported across different time windows, so the totals do not necessarily align.

How much of the crypto liquidation total came from long positions?

CryptoSlate reported that bullish positions represented nearly 89% of liquidation losses. In a separate 24-hour tally, Altcoin Buzz put long liquidations at $954.38 million, or 88.2% of the total, against $127.30 million for short positions.

Why were AI data centers part of the market discussion?

ForkLog reported that investors had questioned whether companies could recoup their AI spending and were considering possible oversight of data center construction. It said Texas election winner Gina Hinojosa had proposed pausing new data center construction until a state legislative session adopted protections for residents.

Sources

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