Historical market recap: PANews published the original report on November 6, 2026, at 18:25:50 UTC+8. Prices, flows and commentary below reflect that reporting window.
Bitcoin fell below $76,000 and Ether dropped under $2,300 as a sell-off in U.S. technology shares spread across crypto and Asia-Pacific equities. U.S. spot crypto ETFs also recorded net outflows, while analysts cited concerns that AI infrastructure expansion could slow.
Bitcoin loses its rebound as ETF flows reverse
At the time of the PANews report, Bitcoin traded at $75,721, down 5.9% over 24 hours, 3.4% over seven days and 9.9% over 30 days. Its market capitalization had fallen to $1.52 trillion.
Bitcoin had previously rebounded to $81,200 following the Binance theft incident described in the report. The subsequent decline erased that recovery.
According to SoSoValue data cited by PANews, U.S. spot Bitcoin ETFs recorded $430 million in net outflows on November 5, U.S. Eastern time, compared with $74.5677 million in net inflows the previous day. Fidelity’s FBTC led withdrawals with $200 million, followed by BlackRock’s IBIT at $105 million.
Derivatives markets were also under pressure. PANews reported deleveraging and said an options expiry was amplifying volatility. About $2.64 billion in Deribit Bitcoin options were due to expire at 16:00 on November 6, with a put/call ratio of 0.38 and a maximum-pain level of $79,000. Call positions were concentrated at $82,000 and $85,000—well above the reported spot price.
AI expansion concerns frame the sell-off
CryptoQuant analyst Axel Adler Jr. attributed the crypto decline to weakness in U.S. technology shares, which he described as suffering their largest one-day fall since the COVID-19 pandemic.
According to his account, Democrats who won gubernatorial elections in Texas, Ohio and Georgia had pledged to pause new data-center construction, raising concern about slower AI infrastructure expansion. He warned that further crypto selling remained a risk while the equity sell-off continued.
Another CryptoQuant analyst, Darkfost, reported that a Bitcoin–S&P 500 correlation indicator had moved above zero for the first time since 2015, describing increasingly frequent instances of Bitcoin moving with equities. That was a claim about the cited indicator, not evidence that all measures of the relationship had changed in the same way.
Policy expectations added uncertainty. PANews cited CNBC reporting that major Democratic gains in the midterm elections could leave the CLARITY Act sidelined until 2028. It also cited The Wall Street Journal’s report that Senator Elizabeth Warren, a longtime crypto-industry critic, was expected to lead the Senate Banking Committee. These were reported prospects, not completed legislative or leadership outcomes.
Traders disagree on whether support will hold
Bitcoin fluctuated around $75,000–$76,000, with traders watching for another test near $75,000.
Michaël van de Poppe argued that Bitcoin was holding up better than the Nasdaq, drawing a comparison with March 2020. He expected the Nasdaq to bottom the following day and suggested Bitcoin might stabilize after sweeping the $75,000 area. His description of the volatility as an accumulation opportunity was a trading opinion, not an established outcome.
Crypto Tony said he was waiting for lows to be tested and support to hold before considering a long position. Rekt Capital took a more cautious structural view: he said Bitcoin had reached support resembling the right shoulder of its 2023 cycle pattern and was moving below it. He put the retreat from the previous high at roughly 13%, with short-term weakness still unresolved.
Ether falls harder, with ETF withdrawals resuming
Ether traded at $2,230, down 7.9% over 24 hours, with a market capitalization of $272.4 billion.
U.S. spot Ether ETFs recorded $99.9677 million in net outflows on November 5, Eastern time. BlackRock’s ETHA accounted for $75.2030 million and ETHB for $21.9878 million. The previous session had brought $53.02 million in net inflows, briefly interrupting a five-day outflow streak.
Ether’s perpetual funding rate turned negative at -0.0004%. Open interest fell from $2.004 billion on November 5 to $1.708 billion, while the long/short account ratio rose from 2.6 to 3.36.
About $224.5 million in Deribit Ether options were due to expire on November 6. Their put/call ratio was 1.27, with maximum pain at $2,350 and another substantial concentration of positions around $2,100.
Daan Crypto Trades identified $2,100 as important support and $2,800 as an upside target area, warning that a break below $2,100 would pose a more serious challenge to the medium-term bullish structure. Atrades remained bearish unless Ether reclaimed $2,464. Minga moved an Ether position’s stop to $2,050, while Crypto Tony was waiting for a confirmed test of the lows before considering another long.
Elsewhere, XRP fell 9.8%, SOL lost 6.9%, and ZRO led declines among the top 100 cryptocurrencies by market capitalization with an 11.4% drop.
Binance recovery efforts remain unfinished
PANews reported that Binance announced phased reopening of withdrawals for more assets beginning at 12:00 on November 6 following the theft incident.
The exchange also sought the return of 8,425.997 ETH and approximately 74.56 million ARB frozen through ArbitrumDAO. The governance process was expected to take about 49 days; the report did not say the assets had already been returned.
Asian markets reflect the same technology-sector pressure
The equity sell-off extended across the region, with chipmakers, memory producers and AI-computing supply chains among the hardest hit.
- South Korea: An early-session circuit breaker was triggered. The KOSPI closed down 6.02% at 5,059.69, while the KOSDAQ fell 5.03%. SK Hynix lost 10.44%, SK Square 10.51% and Samsung Electronics 6.35%.
- Japan: The Nikkei 225 fell 5.96% to 57,434.70, putting it 20% below its June high and into a technical bear market. The Topix declined 5.90%. SoftBank Group dropped 10.83%, ROHM 15.00% and Tokyo Electron 5.60%.
- Hong Kong: The Hang Seng fell 1.27% and the Hang Seng Tech Index lost 1.83%. Tencent declined 2.46%, Xiaomi 2.94% and SMIC 4.04%. FIT Hon Teng and GDS fell more sharply, by 14.16% and 10.61%, respectively.
- Mainland China: The Shanghai Composite fell 1.10%, the Shenzhen Component 2.57% and ChiNext 3.96%. More than 4,700 stocks declined. Turnover across the Shanghai and Shenzhen markets totaled 1.66 trillion yuan, down 460.2 billion yuan from the previous session.
There were pockets of resilience. Li Ning rose 5.16% in Hong Kong, while China Construction Bank, China Mobile and China Telecom gained 2.14%, 3.24% and 4.22%, respectively, in the mainland-market recap.
The report’s central question was whether U.S. technology shares could stabilize. ETF outflows, derivatives positioning and trader forecasts described a pressured market, but none established when the selling would end.