On November 5th, Bitcoin fell below $76,000. As the selling of cryptocurrencies intensified, leveraged long positions worth $954.38 million were liquidated, pushing the total amount liquidated in the past 24 hours to $1.08 billion.

Among them, long positions were liquidated for $954.38 million, while short positions amounted to $127.30 million.

Bitcoin fell by 5.8%, while Ethereum and Solana fell by 7.5% and 7.9% respectively. Coinbase and Strategy both fell by about 10%, with several mining stocks recording even larger declines.

According to CoinGecko data, Bitcoin has fallen by 5.8% in the past 24 hours, trading at $75,954; Ethereum has fallen by 7.5%, trading at $2,251; Solana has fallen by 7.9%, trading at $89.16. The total market value of cryptocurrencies has fallen by 4.6%, to approximately $2.66 trillion.

This decline occurred after a previous round of rebound above $80,000, erasing the gains that Bitcoin had made since the lows during the election week. XRP fell by 6.1% to $1.23; BNB fell by 3.9% to $691.42; TRON fell by 1.1% to $0.3167.

Zcash fell by 5.3% to trade at $1,242.29. Among the top ten assets by market value, Figure Heloc managed to rise by 1.6% against the trend, while USDT and USDC remained relatively stable near their dollar-pegged levels.

Encrypted settlement is mainly based on long positions.

According to CoinGlass, a total of 210,326 traders were liquidated in the past 24 hours. Among them, long positions amounted to 954.38 million US dollars, accounting for 88.2% of the total; short positions amounted to 127.30 million US dollars.

The liquidation amount for Bitcoin positions was 280.65 million US dollars, of which 89.4% were long positions. Ethereum followed closely, with a liquidation amount of 174.86 million US dollars, of which 82% involved bullish positions; the liquidation amount for Solana was 37.62 million US dollars.

The maximum single settlement was for a long position in ETHUSDT worth $10.94 million, which is the previous transaction. This exchange accounted for 46.7% of the total reported amount.

It is worth noting that the Nasdaq Composite Index fell by 4.7% during trading on Thursday, and the S&P 500 Index fell by 3.5%. NVIDIA declined by 7.5%, AMD fell by 14.6%, and CoreWeave fell by 12.1%. Investors are assessing financing costs as well as uncertainties related to data center construction.

During the same trading period, U.S. crypto-related stocks also saw declines. Coinbase fell by 10.56% to $135.50; Strategy fell by 10.12% to $128.11.

Robinhood fell 11.81% to $77.09; stablecoin issuer Circle fell 11.92% to $67.05. Both companies have slightly rebounded from their intraday lows, at $75.51 and $64.89 respectively.

Riot Platforms fell 5.14% to $14.58, and at one point during the session it dropped to $12.97. Stock percentage changes are calculated based on the previous closing price, while cryptocurrency data covers a rolling 24-hour period.

Gold prices maintain their gains, while silver prices fall back.

The trend of precious metals is different. Spot gold was reported at $4,095.49 per ounce, up 0.9%, and at one point during the session it reached $4,146.63.

The weakening of the US dollar and the decline in US Treasury yields have supported gold prices. Gold rose by nearly 3.4% on Wednesday and reached its highest level since October 20 during trading on Thursday. Silver's earlier gains were reversed, closing at $52.16 per ounce, a decrease of 0.2%.

Bitcoin falls back near its November lows

Earlier on November 5th, crypto.news previously reported that the daily chart of Bitcoin showed the lower Bollinger Band at $76,059, close to this week's low of $75,736. Subsequently, the price fell below $76,000, bringing it back to that range.

The same chart shows that the 20-day moving average is at $80,139, with resistance levels around $81,000 to $82,000.

Before the reversal on Thursday, there was a resumption of capital inflows into US spot Bitcoin ETF. On November 4th, it attracted $74.6 million in capital inflows, following three consecutive trading days of capital outflows. Fidelity's FBTC saw a net inflow of $236.7 million, while BlackRock's IBIT recorded a net outflow of $201.2 million.