Bitcoin slid toward $76,000, erasing Wednesday's breakout above $80,000 as a tech stock selloff spread to crypto. Roughly $428 million in crypto longs were liquidated within an hour, and about 90% of the top 100 cryptocurrencies were in the red. The S&P 500 lost about 2.6% and the Nasdaq sank nearly 4%, approaching correction territory, amid concerns over AI spending, interest rates and Democratic oversight of the industry. The article says Wednesday's rally was largely driven by short covering, while today's reversal triggered forced selling of longs as traders expect another Federal Reserve rate increase in December. Technically, the unfinished daily candle threatens a bearish engulfing pattern, with the next test at $75,000.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Decrypt ↗
Keywords
bitcoincryptoFedinterest ratesNVDA
Open a keyword to see other news on the same topic.
Related tickers and likely impact
BTC/USDT
▼ Likely negativeBitcoin
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 11/04/2026 | 80,504.01 |
| Change that session | +3.94% |
ETH/USDT
▼ Likely negativeEthereum
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $277.2B |
| Close on 11/04/2026 | 2,424.61 |
| Change that session | +6.59% |
NVDA
▼ Likely negativeNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/04/2026 | 200.28 |
| Change that session | -3.10% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- BTC heads into US midterm showdown: Three things to know in Bitcoin this week
Bitcoin held its 100-day moving average into the monthly close as markets awaited the US midterm elections, jobs data and earnings from Apple and Palantir; BTC/USD fell 7.3% in October, its weakest October since 2014. Kalshi put the probability of Democrats winning control of the House at 93.6%, and President Donald Trump said he would use his veto power if Democrats took control of Congress. October nonfarm payrolls are forecast to rise by 65,000, after September's gain of 29,000 fell short of the 84,000 forecast; CME's FedWatch Tool showed odds of a 0.25 percentage point Fed rate hike at the December meeting between 67% and 75% over the past month. Bitcoin fell in Q4 of each of the past three US midterm years (17.3% in 2014, 43.5% in 2018 and 14.8% in 2022), and Benjamin Cowen said those Q4 declines typically offer opportunities to buy for investors who sold long ago. BTC/USD held above last week's low near $76,300, close to the 100-day SMA of $76,548 and the 100-week EMA of $77,759, while Rekt Capital compared the chart with the 2023 recovery and watched for a possible brief move below right-shoulder support.
- Bitcoin weakens to $80k as hawkish Fed, mixed tech earnings weigh
Bitcoin fell 0.9% to $80,133.1 on Thursday, erasing a brief rebound from the previous session, after the Fed held rates at 4.0% but reinforced bets on further hikes. Two of the 12 board members called for a 25 basis point increase, while Chair Kevin Warsh gave no clear forward guidance, highlighting the resilience of the U.S. economy and reiterating the 2% inflation target. CME FedWatch showed a 79.8% chance of a 25 bps hike in December, up from 73.4% a week earlier, while the 10-year Treasury yield moved back above 5%. Mixed earnings from Alphabet and Samsung also weighed on risk sentiment and pushed altcoins lower: Ether fell 1.5% to $2,316.64, XRP dropped 2.2%, while BNB gained 1.3%.
- Bitcoin dips below $80,000 as Samsung-led tech jitters and a hawkish Fed weigh on crypto
- Bitcoin price bounce rejected at 50-day trend line ahead of FOMC, earnings
Bitcoin fell about 0.3% on Wednesday after failing to hold above $81,687 and stalling below its 50-day simple moving average at $81,831, dipping as low as $80,297 on Bitstamp. Markets awaited the Federal Reserve’s decision under Chair Kevin Warsh, with CME FedWatch showing 90.6% odds of a pause within the current 3.75-4% range. U.S. stocks traded flat while South Korea’s KOSPI jumped 6.6%. Glassnode said bid liquidity below $80,000 is thin at about $3.4M, while the $78,000-$79,000 zone holds roughly $42M in orders, up from $24M in mid-October. Analyst Keith Alan said a 4-hour close below $80,565 would reduce the chance of retesting the 50-day SMA.
- Live updates: Bitcoin climbs above $81,000 as majors rally ahead of Fed decision
Bitcoin rose 2% to just above $81,000 on Wednesday Asian morning, recovering from Monday's dip below $80,000 as traders positioned for the Federal Reserve's rate decision. Most major tokens also gained: HYPE jumped nearly 6% to just above $81, ZEC added 5% to about $1,300, DOGE rose 4%, and BNB and SOL each gained about 3%. Ether climbed 2% to about $2,360, XRP rose 3% to $1.32, and TRX gained about 1%. The bounce follows a Galaxy note saying now is the time to accumulate bitcoin, with its head of firmwide research, Alex Thorn, saying the bear market likely ended in June, when bitcoin traded under $58,000. The bigger test comes when Fed Chair Kevin Warsh holds his press conference, as traders look for any hint of a December rate hike that would make borrowing costlier and tends to pull money from riskier assets like crypto.
- Bitcoin price eyes $82K as Morgan Stanley strategist says most of correction is over
Bitcoin approached $82,000 on Wednesday, extending its rebound as bid liquidity built up around $79,000 and $80,000, while South Korea's KOSPI rose 6.6%. Morgan Stanley's Mike Wilson said most of the tech stock correction is already over, and CME Group's FedWatch showed 90.6% odds that the Fed would keep rates in the 3.75-4% range. Crypto analyst Rekt Capital said Bitcoin's weekly chart resembles the 2022 structure, with resistance near $82,000 still unbroken and the pair yet to discard a $60,000-$80,000 accumulation range.
Related markets
Latest news
- Democrats to Push Broader Crypto Market Structure Bill After Sweeping US Midterms: Report
According to a report, House Democrats are discussing expanding Rep. Maxine Waters' Crypto Investor and Consumer Bill of Rights, an amendment to the Clarity Act, into a broader crypto market structure bill that would give the SEC more oversight and limit the CFTC's role. Stand With Crypto's tracker shows 27 endorsed pro-crypto candidates won, 12 lost and six races remain open, out of 45 endorsed. Analysts say passing the Clarity Act has become tougher, though not hopeless, since converting Democratic support into legislation is the main challenge. Bitcoin was trading around $76,820, down 4.1% on the day. CoinShares' Butterfill said the result alone would not change his medium-term Bitcoin outlook, though slower reform could delay institutional activity.
- Nvidia Is the Biggest Bet in Your Index Fund. Here’s What Its Drop Just Cost You
Nvidia (NVDA) fell 5.23% to $189.67 in early trading Thursday, from $200.13 at the session's start, in a second day of AI and chip selling after the Democratic midterm sweep, with no company-specific news. Because Nvidia is the largest holding in many S&P 500 and Nasdaq-100 index funds, the drop weighs on 401(k) accounts that savers often consider diversified. The article estimates a $250,000 S&P 500 fund position lost roughly $991 on paper from Nvidia alone. Nvidia's latest quarter brought revenue of $96.22 billion, up 105.8% year over year, and it guided third-quarter revenue to $108.0 billion, plus or minus 2%. The piece lists checks for savers, including the top 10 holdings of each fund, combined single-stock exposure, target-date funds and rebalancing schedules.
- Micron stock declines 12% as chip sell-off deepens
Micron Technology (MU) shares tumbled 12% as the chip sell-off deepened on Thursday. Peers SK Hynix (SKHY), Sandisk (SNDK), Seagate (STX) and Western Digital (WDC) also fell by double-digit percentages during the session. Nvidia (NVDA) and AMD (AMD) sank 6% and 13%, Broadcom (AVGO) dropped 6%, and the PHLX Semiconductor Index (^SOX) fell 8%. The article links the sell-off to Democrats winning control of both the House and Senate, which raised concerns about a slowdown in data center buildouts, after chip stocks had already declined significantly over the past month on worries about an overextended AI trade.
- Shield to acquire Echodyne in a transaction valued at $5.3 billion and raise $2.5 billion at a $28.8 billion valuation
Shield has agreed to acquire Echodyne, a radar company, in a deal valued at $5.3 billion, of which $4.8 billion will be paid and issued at closing, with up to $500 million more contingent on Echodyne meeting agreed performance targets. To fund it, Shield is raising $2.5 billion: $1 billion in Series H funding at a $28.8 billion post-money valuation, a $1 billion structured equity investment from funds managed by Blackstone, and $500 million in debt led by JPMorgan Chase Bank, N.A. Echodyne's radars are built into hundreds of counter-drone and security systems used in more than 40 countries, and the deal expands Shield's Mission Systems business into radar and counter-drone markets. The acquisition is expected to close in early 2027, subject to regulatory approvals.
- CoreWeave Sinks 9% as Microsoft Rejects Nscale’s Texas Expansion: “The First Person Who’s Going to Suffer”
CoreWeave fell 9% today after the Financial Times reported that Microsoft declined an option to more than double its lease at Nscale's Texas site, a deal potentially worth tens of billions of dollars. The article says neoclouds borrow against new contracts, so a hyperscaler stepping back weighs on CoreWeave even though its $104.2 billion backlog is untouched. Total debt, including leases, rose from $2 billion at the end of 2023 to $29.8 billion at the end of 2025 and reached $51.6 billion by June 30, 2026, while its 9.625% notes due 2032 fell below 80 cents on the dollar, a yield near 15%. CoreWeave guided third-quarter interest expense of $860 million to $940 million, against adjusted operating income of $200 million to $260 million. The author calls today's drop fair and will watch the November 10 report to see whether CoreWeave can cover its interest.
- Two Days Before Today's Selloff, Data Put Global September Chip Sales Up 146.8% Year to Year
The PHLX Semiconductor Index (SOX) fell 8.27% to 9,419.27 at 10:34 a.m. ET from Wednesday's close of 10,268.65, though it remained about 33.0% above its 2025 finish. The Semiconductor Industry Association reported global chip sales of $517.7 billion in the third quarter of 2026, up 24.1% from the second quarter, and $172.6 billion in September, up 146.8% from September 2025. Regionally, September sales rose 191.7% in the Americas, 141.4% in Asia Pacific/All Other, and 124.9% in China. Company results cited include Lam Research's September-quarter revenue of $8.22 billion with December-quarter guidance of $8.60 billion, plus or minus $400 million, and TSMC's third-quarter revenue of US$46.72 billion, up 41.2%.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.