By Isaac • November 5, 2026 11:23 am •
Bitcoin’s post-election bounce vanished Thursday. The reversal forced leveraged traders out of the market by the hundreds of millions of dollars.
Bitcoin fell below $77,000 after trading above $80,000 during the previous session, while Ethereum, XRP and Solana also moved sharply lower. The selloff spread across nearly the entire large-cap crypto market.
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Decrypt reported that Bitcoin traded near $76,500, down almost 5%, as roughly 90% of the top 100 cryptocurrencies turned red. Its market snapshot showed about $428 million in crypto long positions liquidated in a single hour.
The report tied the crypto reversal to a wider technology selloff. It put the Nasdaq down nearly 4% and the S&P 500 lower by about 2.6% in late-morning
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