Bitcoin fell from a peak of $81,105 to a low of $76,059 on Bitstamp Thursday, Nov. 5, 2026, a decline of $5,046, or approximately 6.22%, as a technology stock selloff weighed on cryptocurrency markets. Selling accelerated around 10 a.m. Eastern time, erasing much of the previous day's post-election recovery.
Price Action and Market Context
Bitstamp's hourly chart shows bitcoin climbing from approximately $75,618 on Wednesday to $81,105 before consolidating near $80,000. That stability broke Thursday morning as the price slipped through $79,000, $78,000, and $77,000. The five-minute chart showed consecutive declining candles and expanding trading volume after 9:30 a.m., with a low of $76,059 recorded by approximately 10:13 a.m.
The retreat coincided with weakness in semiconductor and artificial intelligence-related stocks. Reuters reported that Qualcomm (QCOM) fell approximately 10% in premarket trading following disappointing smartphone chip sales. Nvidia (NVDA), Intel (INTC), and other semiconductor companies also faced selling pressure.
The technology-heavy Nasdaq Composite opened approximately 0.7% lower, while the S&P 500 declined 0.2%. The Dow Jones Industrial Average gained roughly 0.6%, illustrating a division between technology shares and the broader market. By 10:30 a.m., the Nasdaq had lost 4% against the U.S. dollar, the NYSE shed a percentage point, the Dow was down 1.8%, and the S&P 500 lost close to 3%.
Post-Election Rally Reverses
Wednesday had presented a different picture. Following Democrats' victories in both congressional chambers during the Nov. 3 midterm elections, U.S. equities rallied as investors welcomed greater political clarity. Bitcoin also recovered from below $76,000 to reach the $81,000 neighborhood.
That relief proved short-lived. Thursday's selling followed renewed concerns about artificial intelligence infrastructure spending and possible regulatory restrictions affecting data centers. Reuters reported that investors were assessing how the election results might affect future construction and energy-intensive technology projects. Cryptocurrency markets also entered the session carrying concerns surrounding the $6.3 billion Binance security breach on Oct. 29 and uncertainty about Washington's regulatory direction.
Bitcoin frequently trades alongside speculative technology investments during periods of heightened uncertainty. Thursday's simultaneous declines suggest investors were trimming exposure to risk-sensitive assets, although the drawdown alone cannot establish the precise cause of bitcoin's selling.
Technical Levels in Focus
The immediate technical picture centers on two price zones. The first sits around $75,600 to $76,000, where buyers previously helped reverse Wednesday's decline. A sustained break beneath that area would weaken the latest recovery attempt. With a slide to $76,059, the $76,000 zone looks weaker.
The second spans $80,000 to $81,105, where bitcoin struggled to maintain its post-election gains. Reclaiming that territory would provide a stronger indication that buyers had regained control. Neither level guarantees a reversal.
Liquidations Surge Across Crypto Markets
The selling pressure extended well beyond bitcoin. Coinglass data showed $838.54 million in cryptocurrency liquidations over the preceding 24 hours, affecting 166,904 traders. Long positions absorbed $741.04 million, representing 88.4% of the total, while short liquidations accounted for $97.50 million.
Bitcoin led individual assets with $213.31 million in liquidations, followed by ethereum at $122.13 million. At 10:30 a.m. ET, approximately $554.66 million in positions were wiped out during the latest hour alone, including $520.29 million in bullish bets. Binance accounted for 46.8% of liquidations by exchange.
Bitcoin's next technical test centers on the $75,600 to $76,000 support zone, where a sustained breakdown would threaten to erase Wednesday's post-election recovery entirely.
