Crypto Market Erases Election Rally as $1.1 Billion…
By Karthik Subramanian
AI summary of the source article
The cryptocurrency market fell sharply on November 5, 2026, as Bitcoin dropped roughly 6% to $75,700, erasing its post-election recovery. The decline coincided with US equity losses and triggered approximately $1.09 billion in derivatives liquidations within 24 hours.
Why it matters
For investors, the combination of falling prices and concentrated leveraged positions demonstrates how rapidly market conditions can deteriorate when liquidity weakens.
Key facts
- Bitcoin fell approximately 6% to $75,700 and Ethereum dropped over 7% to around $2,247, pushing total crypto market cap down to $2.64 trillion.
- CoinGlass data showed about $1.09 billion in crypto derivatives liquidated over 24 hours, with long positions making up roughly $955.6 million.
- The downturn coincided with broad equity declines, including a 5.5% drop in the Nasdaq Composite and a 4.3% drop in the S&P 500.
Source excerpt · FinanceFeeds
The cryptocurrency market suffered a sharp reversal on November 5, 2026, as Bitcoin fell approximately 6% to $75,700 and leveraged trading liquidations approached $1.1 billion over 24 hours. The decline erased Bitcoin's recovery above $80,000 following the November 3 US midterm elections, when Democrats secured control of both chambers of Congress. Ethereum dropped more than 7% to approximately $2…