Crypto Market Rollercoaster: $100B Rally Erased as Prices Slide

A Tale of Two Halves in the Crypto Market

The first week of November 2026 proved to be an eventful period for digital asset markets. Prices surged rapidly following major political headlines, only to pull back sharply days later.

In total, the crypto market added roughly $100 billion in value after the U.S. midterm elections. However, a widespread sell-off across global technology stocks soon wiped out those gains.

Think of it like a theme park coaster. The market climbed quickly up a high steep hill before plunging right back down to where it started.

The Post-Election Surge: How Washington News Sparked an Initial Boost

The week began quietly with the total crypto market capitalization sitting just above $2.7 trillion. Cautious investor sentiment ahead of Election Day briefly pulled the market down to $2.67 trillion.

Once initial U.S. election results pointed to a shift in political power in Washington, sentiment turned around quickly. Buying interest picked up rapidly across major assets.

Leading the charge was Bitcoin, which climbed from just above $75,000 up to $81,000. By November 5, total crypto market capitalization reached near $2.79 trillion.

The Pivot: Why Tech Stocks and Proposed Regulations Triggered a Sell-Off

The upward momentum stopped abruptly on Friday, November 6. Market sentiment shifted as news emerged regarding proposed Democratic restrictions on cryptocurrencies and data centers.

At the same time, global technology stocks suffered a sharp downturn. Artificial intelligence (AI) stocks saw significant pullbacks, losing trillions in total market value.

Because modern crypto markets often move in step with high-growth technology shares, digital assets dropped swiftly. By the end of the week, total crypto market capitalization fell back below $2.64 trillion.

Bitcoin's Rollercoaster: Behind the 2.5% Weekly Slide

As the largest digital asset, Bitcoin played a central role in the market's swings. During the sharp pullbacks, Bitcoin briefly dipped below $75,000 for the first time since late August.

Over the seven-day period, Bitcoin dropped 2.5%, moving from $77,845 down to $75,877. Investors should keep in mind that crypto markets remain subject to sudden price volatility.

Past performance of digital assets or past operational results is no guarantee of future digital asset returns or future operational results. You can track real-time price changes at bitkub.com/th/market/BTC.

Altcoins Under Pressure: XRP and Major Tokens Take a Hit

Several alternative cryptocurrencies experienced deeper pullbacks than Bitcoin. XRP rallied above $1.32 early in the week before sliding to a multi-week low of $1.15 on Saturday.

That drop left XRP down more than 7% over the seven-day stretch. Readers can view current market activity on bitkub.com/th/market/XRP.

Other prominent altcoins recorded notable weekly declines during the broader market pullback:

• NEAR ProtocolNEAR-0.25%: Plunged 15% over the week
• HyperliquidHYPE-0.38%: Dropped more than 12%
• Bitcoin Cash (BCHBCH-5.46%): Declined approximately 12%
• Stellar (XLM): Fell about 10%
• World Liberty Financial (WLFI): Shed 7%

Bucking the Trend: Tron, Zcash, and Gold-Backed Tokens Rise

Not every asset ended the week in negative territory. A few selective tokens managed to buck the broader market slide and post gains.

Privacy-focused cryptocurrency Zcash (ZEC) and smart contract platform Tron (TRX) both recorded advances of roughly 3% during the week.

Gold-backed tokens also saw steady buying interest as market participants sought out defensive hedges:

• Tether Gold (XAUTXAUT-0.05%): Rose 4.6%
• PAX GoldPAXG-0.11%: Increased 4.1%

Key Takeaways for Readers

This week highlighted how interconnected digital assets remain with broader macroeconomic factors. Headlines around government policy, interest rates, and global stock trends continue to influence crypto price movements heavily.

While political shifts can trigger quick short-term rallies, broader global market liquidity and stock market pullbacks can erase those gains just as quickly. Staying informed on macro trends helps put daily price movements into proper perspective.