Bitcoin Crosses $80,000 as Altcoins Rise and SHIB Struggles

Bitcoin Rebounds Above $80,000 While SHIB Trails Behind

Bitcoin (BTCBTC+1.55%) pulled off a recovery after dipping to roughly $75,600, climbing back above the key $80,000 mark.

On November 5, 2026, Bitcoin was trading near $80,300, marking a 24-hour gain of over 3%.

Other major cryptocurrencies also joined the upward move. Ether (ETHETH+3.20%) led the front-runners with a 5% gain, reaching around $2,421.

However, Shiba InuSHIB+1.84% failed to mirror this positive momentum and remained under substantial selling pressure.

Liquidations and ETF Inflows Fuel the Bitcoin Rally

The quick jump in Bitcoin's price was largely driven by a massive short squeeze in the derivative market.

Data from CoinGlass shows that around $378 million in short positions were liquidated in just a single hour. Total liquidations across the market reached nearly $747 million.

Spot Bitcoin ETFs also saw a shift in capital flows after a recent drawdown.

Between October 30 and November 3, spot ETFs experienced net outflows totaling about $1.16 billion.

That trend reversed on November 4 with a net inflow of $74.6 million, according to data from Farside.

Even so, institutional demand remains mixed. BlackRock's IBIT ETF still recorded $201.2 million in net outflows on that same day.

The correction may not be fully over yet, as the Bitcoin Cycle Extremes Index sits at 15.8% on its 30-day average, according to CryptoQuant analyst Crypto Zeno.

What Technical Indicators Show for Bitcoin

On the daily price chart, buyers absorbed selling near the 200-day moving average between the $76,000 and $77,000 support region.

Following that rebound, BTC climbed back above its shorter-term moving averages.

The Relative Strength Index (RSI) rose to around 51, up from weaker readings, signalling improving buying momentum.

Despite these positive technical signs, chart patterns have not yet confirmed a full bullish trend reversal.

If spot buying volume remains steady, Bitcoin could attempt to build momentum above $80,000. However, if market pressure resurfaces, prices could retest support levels around $76,000.

Major Altcoins Move Up, But SHIB Breaks Support

Most large-cap altcoins kept pace with Bitcoin's movement over the same 24-hour period.

XRP, SolanaSOL+2.40%, and BNBBNB+1.59% all recorded gains between 2% and 4%.

Shiba Inu (SHIB), on the other hand, struggled to build any meaningful recovery.

SHIB was trading near $0.00000475, staying well below its September highs of around $0.00000620.

From a technical perspective, SHIB broke below its ascending support trendline, invalidating its previous positive structure.

The token remains under its major moving averages, which are acting as overhead resistance.

Immediate resistance for SHIB sits between $0.00000510 and $0.00000530, with stronger resistance near $0.00000550.

Although SHIB's RSI is approaching oversold territory, current data shows insufficient evidence of strong buyer accumulation.

Disclaimer: Past performance of digital assets is not an indicator of future results. Crypto asset trading carries market risk.