Bitcoin Drops to $75,600 as Nasdaq Tech Stocks Crash

Bitcoin traded near $75,600 on Friday, November 6, 2026, dropping roughly 6 percent over a 24-hour period and touching an intraday low near $75,200, WebEconomia reported. The cryptocurrency struggled to hold the $75,000 support threshold following a sharp macroeconomic pullback that erased a post-election rally which had pushed prices back above $80,000 just two days prior.

The Nasdaq Composite dropped 5.52 percent, while the S&P 500 fell 4.36 percent and the Dow Jones Industrial Average shed 3.44 percent. Semiconductor stocks absorbed the heaviest blow, with the Philadelphia Semiconductor Index crashing 12.25 percent and Nvidia falling 9.26 percent in what marked the most violent downturn for American indices since April 2025.

Selling Pressure Spreads Across Asian Exchanges

Selling pressure migrated overnight to Asian exchanges. Seoul’s KOSPI index dipped below the 5,000-point mark for the first time since February, with SK Hynix dropping 11.71 percent and Samsung Electronics losing 9.98 percent. In Tokyo, the Nikkei 225 entered a bear market after surrendering more than 20 percent from its peak. Broader market unease centered on escalating corporate costs within artificial intelligence infrastructure, prompting widespread institutional evaluations of data center expenditure limits and tighter regulatory scrutiny.

As correlated risk assets plunged, roughly $1.08 billion in crypto liquidations materialized across a 24-hour window, with 88 percent of those liquidations originating from long positions. Bitcoin demonstrated relative resilience compared to the tech sector, suffering a loss of approximately 5.3 percent, which contrasted with the nearly 6.5 percent drop in the American Nasdaq-tracking QQQ exchange-traded fund.

Deribit Options Expiry and Spot ETF Outflows

Market participants monitored a heavy derivatives expiration schedule on Deribit, where Bitcoin and Ether options contracts totaling approximately $2.86 billion matured. Bitcoin options accounted for $2.64 billion of that total, featuring a put-to-call ratio of 0.38 and a max pain point resting at $79,000. With spot prices trading beneath $76,000, a significant majority of call options remained out of the money, favoring bearish positioning.

Concurrently, United States spot Bitcoin exchange-traded funds recorded $430 million in net outflows on November 5. These redemptions followed an approximate $1 billion exit wave triggered by a Binance security breach, which included roughly $900 million withdrawn from IBIT.

Technical Supports Face Risks from Decisive Breakdown

A decisive breakdown beneath this region risks exposing lower technical supports at $73,000 and $68,000. Conversely, reestablishing a bullish market structure requires sustained daily closes above the $80,000 level.

Employment Data and Index Year-to-Date Performance

The Bureau of Labor Statistics publishes the October employment report, arriving after the Federal Reserve kept interest rates steady between 3.75 percent and 4 percent. Meanwhile, fund share values published by issuers in euros show year-to-date gains for the S&P 500 via its replicating ETF at +13.3 percent, with a 12-month increase of +11.8 percent. The Nasdaq-100 via its replicating ETF posts a year-to-date return of +10.6 percent and a 12-month return of +6.7 percent, while the Dow Jones via its replicating ETF records a year-to-date increase of +13.0 percent and a 12-month gain of +12.5 percent.