Crypto crash wipes out $954M in longs as Bitcoin falls below $76K

Bitcoin fell below $76,000 on November 5, 2026, as a broad selloff hit cryptocurrencies and US equities at the same time. According to crypto.news, which cited CoinGlass data, the move wiped out $954.38 million in leveraged long positions and pushed total 24-hour liquidations to $1.08 billion. Short positions accounted for $127.30 million of the total.

Bitcoin dropped about 5.8% over the period. Ethereum and Solana fell more, by 7.5% and 7.9% respectively. CoinGlass data showed that 210,326 traders were liquidated over 24 hours. Liquidations were concentrated in the most recent four hours of the reporting window. In that stretch, $896.18 million in positions were closed, made up of $817.35 million in longs and $78.83 million in shorts.

Bitcoin-specific liquidations reached $280.65 million, and longs made up 89.4% of that amount. Separate reporting from FinanceFeeds put Bitcoin-related liquidations at about $282.3 million and Ethereum-related liquidations at about $173.7 million. Totals differ by outlet and by the time of each snapshot. Crypto Times later reported that 24-hour liquidations had grown to $1.25 billion, with Bitcoin at about $75,650.

The crypto decline coincided with a sharp drop on Wall Street. FinanceFeeds reported, citing CoinDesk's market-close report, that the Nasdaq Composite fell about 5.5%, the S&P 500 fell about 4.3% and the Dow Jones Industrial Average fell about 3.4%. CryptoTicker said the trigger was a selloff in chip stocks, and that Bitcoin dropped from about $78,767 to about $75,986 within an hour. Crypto Times, citing Reuters, said the Nasdaq opened lower as chip and data-center stocks fell. That came one session after markets had rallied on Democrats' victory in the US midterm elections. Crypto Times described it as the Nasdaq's steepest one-day fall since April 2025.

Crypto-linked equities were also hit. Crypto.news reported that Coinbase and mining stocks fell alongside the broader technology sector.

The selloff erased Bitcoin's gains since the midterms. Crypto Briefing reported that Bitcoin had risen above $80,000 after the election before the reversal. FinanceFeeds noted that election-related uncertainty may have added to volatility. It also said analysts cautioned that the timing did not establish the election result as the direct cause of the decline.

Liquidations happen when traders who borrowed funds to take leveraged positions can no longer meet margin requirements. Their positions are then closed automatically. When most of the liquidated positions are longs, as in this case, forced selling can add to downward price moves in a fast market. The effect can be larger when liquidity is thin.

The event shows how closely crypto prices and technology stocks moved together on the day. Several outlets described the move as risk-off trading across assets. Figures from liquidation trackers and price feeds change quickly, and sources report different totals depending on when they take their snapshot. Readers should check live data for current levels. This article is for information only. It is not financial or investment advice, and it does not suggest that any future price movement will follow.

This is a news summary for general information only — not financial advice, and nothing here is a recommendation to buy, sell, or hold any asset. Always verify against the original source and do your own research before making a financial decision.