Why Is Crypto Down Today? 6 Reasons Bitcoin Fell to $75,000 — and What Happens Next

Bitcoin is trading near $75,800 on Saturday, November 7 — roughly 40% below its $126,156 all-time high from early October 2025, parked on its lowest level since August 21, and the Crypto Fear & Greed Index has crashed from 50 (Neutral) to 25 (Extreme Fear) in just two days. US spot Bitcoin ETFs have bled about $1.28 billion in November alone, and $1.27 billion in leveraged positions were wiped out on Friday. If you are asking why crypto is down today, the honest answer is that it is not one thing. It is six things hitting at once — and they are feeding each other.

The total crypto market is worth about $2.64 trillion after losing more than $180 billion since November began. Ethereum is at $2,240, Solana at $89.85, XRP down 6.7% on the week. Below, the six real drivers of the selloff, ranked by what actually moved the price — plus the three levels that decide what happens next.

The 6 Reasons Crypto Is Down Today, Ranked

1. A Hot Jobs Report Repriced the Fed — Overnight

The single biggest trigger was not crypto at all. It was the US October jobs report, released on Friday, November 6: employers added 165,000 jobs, against roughly 65,000 expected — two and a half times the forecast. A labour market that strong kills the case for the Federal Reserve cutting rates, and it revived the opposite bet. Odds of a December rate hike jumped from 66.9% to 76.8% on CME FedWatch, according to Cointelegraph.

That matters for Bitcoin because the whole 2025 bull run was built, in part, on the assumption that rates would keep falling and cheap money would keep flowing into risk assets. When the market reprices from "cuts coming" to "a hike is likely in December," every risk asset gets marked down at the same time — stocks first, crypto hardest. Bitcoin fell from above $80,700 on Thursday to a Friday low of $74,762 before steadying near $75,800. Ethereum dropped about 7% on Thursday alone.

Read the full breakdown of the report and what it means for the December Fed meeting in our US jobs report analysis.

2. ETF Outflows: $1.28 Billion Walked Out in a Week

The second driver is institutional money heading for the exit. US spot Bitcoin ETFs recorded $430 million in net outflows on Thursday, November 5, and about $412 million more on Friday, November 6, according to Farside Investors data. Across the two sessions, $842.1 million left the funds — equal to roughly 11,085 BTC at current prices. BlackRock's IBIT accounted for $403 million of Friday's redemptions, partly offset by $42.8 million of inflows into Fidelity's FBTC. Total November withdrawals reached roughly $1.28 billion through Friday.

That is a small number next to Bitcoin's $1.53 trillion market value — about 0.055% of it — but flows matter more than their size suggests. ETF flows are the market's daily referendum on institutional demand, and four straight sessions of selling tell every other buyer to wait. The price held near $75,000 while the funds bled, which is actually a sign of resilience: the selling was absorbed. But until the flow print turns positive again, rallies will struggle to hold. One caution: ETF redemptions are settlement figures published after the fact, not the same thing as spot selling — treat them as a demand signal, not a verdict.

3. Friday's $1.27 Billion Liquidation Cascade

The third driver was leverage eating itself. Friday's selloff triggered a $1.27 billion liquidation wave, as leveraged long positions that had piled up during the brief post-midterm rebound were wiped out in hours. By Saturday, 24-hour liquidations had fallen back to about $165 million, with roughly 64% of that coming from longs — the flush, in other words, had already happened.

Liquidations are crypto's accelerant: a falling price triggers forced selling, which pushes the price lower, which triggers more forced selling. That is why the move from $81,000 to $74,762 felt so violent despite no single piece of catastrophic news. The good news hidden inside the number is that the leverage is now largely gone. A market with less leverage falls less far on the next piece of bad news — and the next move up will not have to fight through a wall of underwater longs. If you want to understand how this mechanism works before the next flush, read our guide to the best time to buy Bitcoin — timing entries around leverage flushes rather than chasing green candles is the single most valuable habit a new buyer can build.

4. The Tech Selloff Spilled Into Crypto

The fourth driver came from the stock market. US technology stocks sold off hard this week on concerns about AI spending and data-centre costs, and Bitcoin — which increasingly trades like a high-beta tech stock — followed them down. Bitcoin was above $80,700 on Thursday before tech shares rolled over. The Nasdaq's worst day since June had already dragged Bitcoin to $81,000 in late October, and the same pattern repeated this week.

It is not just American tech. The Bank of England raised its Bank Rate to 4% on November 5, the first increase since 2023, adding to the global "higher for longer" mood. This is the part of the selloff that has least to do with crypto itself — and the part that reverses fastest if tech stocks stabilise, because the correlation works in both directions.

5. Washington Turned Hostile After the Midterms

The fifth driver is political, and it arrived on Tuesday, November 3, when Democrats won both chambers in the US midterm elections. The Wall Street Journal reports that Senator Elizabeth Warren is set to chair the Senate Banking Committee — the committee every major Senate crypto bill has to clear. The market had priced in a smoother path for the CLARITY Act, the market-structure bill the industry has waited years for; a Warren-led Banking Committee makes that path steeper, slower, or both.

Add the SEC's crypto broker-dealer rule heading to the White House and the new Democratic crypto bill handing the SEC more power, and the regulatory mood music has flipped from tailwind to headwind in four days. Regulation does not set Bitcoin's price day to day — but it sets the ceiling on how much institutional money is willing to commit, and this week that ceiling moved lower. We covered the Warren appointment and the seven decisions she now controls in detail here — and the levels article that followed it is still the best map of the downside if Washington stays hostile.

6. Fear Became the Trade

The sixth driver is sentiment itself — and it is the one that turns a correction into a rout. The Crypto Fear & Greed Index read 25 on November 7, "Extreme Fear," for the first time since early August. Two days earlier it was 50, Neutral. A 25-point collapse in 48 hours is the market screaming, and screaming markets overshoot in both directions.

The fear had fresh fuel: the US Treasury's Financial Crimes Enforcement Network issued an order cutting MEXC off from American banks, alleging the exchange handled about $16.7 billion in suspected illicit transactions between May 2021 and May 2026, including nearly $1.5 billion linked to Russian entities. Our full report on the MEXC order is here. Enforcement against one offshore exchange does not change Bitcoin's fundamentals — but in a week when every headline is red, it is one more reason for nervous holders to sell first and ask questions later.

What Most People Get Wrong About This Drop

Three misconceptions are doing the rounds this weekend, and all three cost people money.

Wrong idea number one: "ETF outflows mean institutions are dumping Bitcoin." Outflows of $1.28 billion sound enormous, but they equal about 0.055% of Bitcoin's market value, and some of the flow is rotation between funds — Fidelity took in $42.8 million on the same day BlackRock lost $403 million. Watch the direction of the total, not the scariest single number.

Wrong idea number two: "Extreme Fear means it will keep falling." The Fear & Greed Index describes sentiment, not the future. It is a snapshot of how traders feel, and it has a habit of hitting its most extreme readings almost exactly at turning points — that is what "extreme" means. Fear at 25 tells you the market is washed out, not where it goes on Monday. Our Fear & Greed reading from yesterday, when the index sat at 28, walks through nine years of data on what has historically followed these prints.

Wrong idea number three: "This is a crypto problem." Bitcoin is down about 40% from its all-time high, but the triggers this week — a hot jobs report, a Bank of England hike, a tech selloff, a midterm result — are all macro and political. Crypto is the asset that falls fastest when risk appetite vanishes, which is why it looks like the epicentre. It is actually the messenger. When the macro weather changes, crypto is usually the first asset to recover, too — something worth remembering before selling into a panic. If you are new to the asset and want the fundamentals rather than the noise, start with our beginner's guide to what Bitcoin actually is.

The 3 Levels That Decide What Happens Next

Forget the noise for a moment. The whole next move comes down to three lines on the chart, and they are unusually close together — which is why the next few daily closes matter so much.

Bitcoin is resting on its 50-week moving average, around $75,556, for a third day. It is also sitting just above its 30-day low of $75,775, and just below its 20-day average of $79,374. Three technical landmarks, three different verdicts, all within a few hundred dollars of the current price. Here is what each one means.

Scenario	Trigger level	What it would mean
Bull case — the drawdown is absorbed	Daily close above $79,374 (20-day average), then $80,000	The November drop is absorbed rather than extended. ETF flows turn positive, shorts cover, and the path reopens toward $85,000. Needs a softer macro print or a tech rebound.
Base case — sideways churn	Holds $75,556–$75,775, range $74,800–$77,200	Bitcoin grinds sideways while the market waits for the next catalyst — most likely the December Fed decision. Weekend volume is thin and the options market's max-pain level sits near $76,000, which anchors the range. This is the highest-probability outcome for the next few days.
Bear case — support breaks	Daily close below $75,775 (30-day low)	There is no closing support left inside the last 30 days. The next stops are $73,000 — the middle of the wide channel analysts are watching — and then $70,000. A break here would likely come with a fresh wave of ETF outflows.

The levels are not predictions; they are tripwires. The most important discipline this weekend is to watch daily closes, not intraday wicks — a dip to $74,500 that closes back above $75,775 means nothing, while a close below it changes everything.

The One Green Corner: Privacy Coins

While almost everything bled this week, privacy coins went the other way. Monero (XMR) is up 5.4% on the week at about $621, holding above its $620 support, and Zcash (ZEC) is at $1,312, up 3.5% in 24 hours, with a market value of $22.35 billion — nearly twice Monero's $11.51 billion. In a week when Bitcoin lost 2% and Solana lost 6.3%, money rotated into the one corner of the market that offers something the rest does not: privacy.

Do not over-read a single week — privacy coins are volatile and thinly traded, and one bad headline can reverse the move. But the rotation is real, and it tells you what this market is actually afraid of: not technology risk, but surveillance, enforcement and control. When traders buy privacy in a fear-driven selloff, they are hedging the regulatory story, not the price chart.

Is This a Buying Opportunity or a Falling Knife?

The honest answer is that it depends entirely on your time horizon — and anyone who gives you a one-word answer is selling you something.

For long-term buyers, the arithmetic is striking: Bitcoin is 40% below its October 2025 all-time high of $126,156, down 25.9% over the last year, and trading on top of its 50-week average after a $1.27 billion leverage flush cleared out the weakest hands. Every previous drawdown of this size eventually rewarded patient buyers — but "eventually" has sometimes meant months, not days, and buying into a falling market without a plan is how portfolios get cut in half. If you are considering a first purchase, our guide to whether Bitcoin is a good investment in 2026 lays out the honest bull and bear cases side by side.

For short-term traders, the checklist is mechanical, not emotional: do not buy until either the 50-week average holds with a strong daily close, or ETF flows print positive for two consecutive sessions, or Bitcoin reclaims $79,374. Do not sell into panic either — selling at Extreme Fear 25, after a 25-point sentiment collapse, is how traders lock in the bottom. And whatever you do, keep your coins somewhere safe: if this week taught holders anything, it is that exchanges can be cut off, frozen or breached with no warning. Our best crypto wallets guide compares hardware and software options for moving coins off exchanges.

One counterweight to the gloom is worth noting: not everyone is selling. Bitcoin treasury company Strive reported a $509 million quarterly profit and bought 8,136 BTC in the third quarter — 20,373 BTC across the first nine months of 2026 — while selling almost nothing. Read the Strive numbers here. When the loudest sellers are ETFs and leveraged traders, and the quietest buyers are companies accumulating on their balance sheets, the market is telling two different stories at once. The price will eventually decide which one was right.

Frequently Asked Questions

Why is crypto down today?

Six factors combined: a hotter-than-expected US jobs report (165,000 vs 65,000 forecast) pushed December Fed hike odds from 66.9% to 76.8%; US spot Bitcoin ETFs saw about $1.28 billion in November outflows; a $1.27 billion liquidation wave flushed leveraged longs on Friday; tech stocks sold off on AI spending worries; Democrats winning the midterms put Senator Elizabeth Warren in line to chair the Senate Banking Committee; and the Fear & Greed Index crashed to 25, Extreme Fear, amplifying the selling.

How far can Bitcoin fall from $75,800?

The key downside levels are $75,775 (the 30-day low) and $75,556 (the 50-week average). A daily close below those opens the way to $73,000 and then $70,000. On the upside, reclaiming $79,374 (the 20-day average) and then $80,000 would signal the drawdown has been absorbed. Watch daily closes, not intraday wicks.

Is the Fear & Greed Index at 25 a buy signal?

Not by itself. The index measures sentiment, not the future — but extreme fear readings have historically clustered near turning points, because they mark moments when selling is exhausted. Use it as one input alongside ETF flows and the technical levels above, never as a standalone signal. Read our nine-year history of Fear & Greed readings for the full picture.

Why are Bitcoin ETFs seeing outflows?

Investors are de-risking after the Fed repricing: with a December hike now the favoured outcome, institutions are trimming exposure to risk assets across the board. The $842 million that left over the November 5–6 sessions was led by BlackRock's IBIT ($403 million on Friday), partly offset by $42.8 million into Fidelity's FBTC. Outflows are settlement figures, not direct spot selling — treat them as a demand signal.

Are altcoins falling more than Bitcoin?

Yes. Ethereum is flat to slightly up on the day but down sharply on the week after a 7% Thursday drop; Solana is down 6.3% on the week at $89.85 and XRP is down 6.7%. The exception is privacy coins: Monero is up 5.4% on the week and Zcash rose 3.5% in 24 hours as money rotated into privacy.

Should I sell my crypto now?

That depends on your time horizon and risk tolerance, and no article can answer it for you. What the data does say: selling at Extreme Fear, immediately after a $1.27 billion leverage flush, has historically been the worst-timed exit. If you are worried about exchange risk rather than price risk, moving coins to a wallet you control — see our wallet guide — addresses the fear without locking in the loss.

Conclusion

Crypto is down today because six separate pressures landed in the same week: a jobs report that repriced the Fed, $1.28 billion in ETF outflows, a $1.27 billion liquidation cascade, a tech selloff, a hostile turn in Washington, and a sentiment collapse from Neutral to Extreme Fear in 48 hours. None of them alone would have cut Bitcoin 40% from its high. Together, they did.

But step back from the red candles and the picture is more balanced than the fear suggests. Bitcoin is holding its 50-week average for a third day. The leverage that fuelled the violence is largely flushed out. ETF outflows, while real, are a fraction of a percent of Bitcoin's market value. And while funds sold, treasury companies like Strive quietly bought. The market now waits on three levels — $75,775, $79,374 and $80,000 — and the next few daily closes will say more than any prediction can. Until then, the smartest move is the least exciting one: watch the closes, watch the flows, and do not let a fear index make your decisions for you.

Sources: market data via SecureShift; ETF flows via Blockchain Reporter; jobs report via The Economic Times; MEXC/Strive via The Bit Journal; technical levels via CoinJuice; altcoins via KuCoin News. Prices are November 7, 2026 snapshots. Not financial advice.