Bitcoin Price Drops Below $75K Amid Global Tech Sell-Off

Bitcoin Touches Lowest Level Since August

Bitcoin experienced a fresh wave of market pressure on Friday, November 6, 2026, dipping briefly below the $75,000 mark. The digital asset hit $74,762, which marks its lowest price level since August 21.

By 11:48 a.m. EST, Bitcoin managed a mild recovery to trade just under $75,700. Even with that slight bounce, it remained down nearly 1.5% over the prior 24 hours.

Past performance of digital assets is not an indication of future performance.

How the Price Action Unfolded

The dip followed a 5% drop about 24 hours earlier, after which Bitcoin built strong support above $75,000. However, sellers repeatedly stepped in every time the price attempted to break above $76,000.

Traders saw this pattern play out three separate times during the morning session:

• First Attempt: Buying momentum pushed toward $76,000 before pulling back toward the $75,000 floor.
• Second Attempt: Another recovery effort stalled out quickly, dragging prices progressively closer to support.
• Third Attempt: Shortly after crossing $76,000 around 8:25 a.m. EST, selling intensified sharply, pushing the price down to its $74,762 low.

This price action meant Bitcoin surrendered $5,046 from its November 4 peak, wiping out earlier gains seen after the U.S. midterm elections.

Global Tech Sell-Off Spreads Across Markets

Bitcoin was not the only asset feeling the pressure. The crypto pull-back coincided with a major decline in global stock markets, driven by technology sector weakness.

Regulatory Concerns Hit AI Stocks

Market anxiety flared following reports that Democratic lawmakers intend to target artificial intelligence (AI) companies and data center operators over rising voter concerns.

Investors already worried about massive AI capital expenditures reacted by selling tech shares, creating a domino effect across global exchanges:

• United States: The 'Magnificent 7' tech stocks collectively lost $1 billion in market value during Thursday's trading.
• South Korea: The benchmark KOSPI index dropped up to 9%, triggering a temporary circuit-breaker trading halt.
• Japan and Taiwan: Major market indices in both regions posted heavy losses by early Friday.

U.S. Jobs Data Exceeds Expectations

Adding to macro complications, fresh economic reports showed U.S. payrolls increased by 165,000 jobs. This figure far beat market estimates of 64,000 jobs.

While strong employment indicates economic resilience, it creates uncertainty around how quickly the Federal Reserve might cut interest rates in upcoming meetings.

Crypto Liquidations Decline Sharply

Despite the drop in Bitcoin's price, total liquidations across the broader crypto market actually slowed compared to earlier in the week.

Data from Coinglass highlights key liquidation metrics:

• Total Market Liquidations: Total crypto liquidations fell to $470 million, down from over $1 billion recorded the previous day.
• Bitcoin Liquidations: Total BTCBTC-0.02% liquidations reached $125 million.
• Long Positions: Traders holding long positions accounted for roughly $105 million of those Bitcoin liquidations.

Capital Shifts Into Money Market Funds

With volatility rising in both crypto and tech equities, institutional investors shifted capital into safer short-term holdings, including U.S. Treasuries.

Assets inside U.S. money market funds hit an all-time record of $8.016 trillion. This move demonstrates that market participants are prioritizing cash liquidity and defensive positioning.

Analyst Perspective: Bitunix on AI Spending and Rate Expectations

Researchers at crypto exchange Bitunix noted that several macroeconomic concerns have converged simultaneously.

Notably, the technology sell-off has also reduced market expectations for a Federal Reserve rate hike in December. This suggests that the tightening effect generated by financial markets themselves could reduce the need for further monetary tightening.

Evaluating Future Market Scenarios

Bitunix analysts pointed out that future market conditions rely on critical assumptions regarding corporate spending and policy decisions. Potential scenarios include:

• If tech investment stabilizes: Steady capital flows into innovation could help risk assets like Bitcoin rebuild upward momentum.
• If AI spending slows further: Weak corporate spending combined with higher energy costs could create economic drag, leading to further price corrections across crypto markets.
• If inflation remains steady: Central banks may keep rates stable, resulting in sideways consolidation for digital assets.

Bitunix concluded that central banks face the challenge of balancing inflation control without causing tighter financial conditions to hinder broader economic growth.