Crypto Liquidations Top $1B as Bitcoin Tests 11-Week Low

Crypto liquidations topped $1 billion as Bitcoin briefly dropped below $75,000 on November 6, reaching its lowest intraday level since August 21. The move came amid a broad selloff in technology stocks. Decrypt reported that leveraged long positions accounted for most of its recorded liquidations.

What happened in crypto liquidations

Bitcoin briefly touched $74,780.91 on November 6, according to Decrypt’s report. That was its lowest intraday price since August 21, 77 days earlier. Decrypt said BTC was trading near $75,570 when its report was published at 16:34 UTC.

Decrypt recorded $1.05 billion in crypto liquidations across the prior 24 hours. Long positions made up $930.04 million, or 88.2%, while short positions accounted for $124.69 million. Bitcoin represented $267.20 million of the total and Ethereum $167.14 million. Longs accounted for 88.9% of Bitcoin liquidations and 81.1% of Ethereum liquidations in that report.

The figures differ across reports. The Block put 24-hour liquidations at $1.09 billion on November 5 and said about 211,000 traders were affected. Its CoinGlass-based four-hour snapshot showed $879.92 million, including $818.90 million in longs. A later November 6 report from Bitcoin.com put broad-market liquidations at $470 million, down from more than $1 billion the previous day.

Those totals reflect different observation windows and reporting snapshots, rather than one settled figure. Reported Bitcoin lows also vary: Bitcoin.com cited $74,762, while the market data snapshot later in this article recorded a 24-hour low of $74,921.

Background and context for the selloff

The retreat reversed a short-lived rally after the US midterm elections. The Block reported that Bitcoin had risen above $80,000 on Wednesday, then fell about 6% to roughly $75,700 on Thursday, November 5. Its coverage described that move as erasing the post-election gains.

Stocks also came under heavy pressure. On November 5, the Nasdaq fell 5.5%, the S&P 500 dropped 4.3%, and the Philadelphia Semiconductor Index lost 12%, according to CoinDesk. Its report said market participants pointed to concerns about AI spending and data-center expansion after the midterm elections. This provides market context, but the evidence does not establish a single cause for Bitcoin’s decline.

CoinDesk also reported that GSR’s Carlos Guzman said a pullback in risk appetite was amplified by leverage. Decrypt’s liquidation figures show that long positions made up most of its reported total. These reports describe the role of leverage and the distribution of liquidations, but do not establish the precise effect of each position closure on Bitcoin’s price.

CoinDesk described the November 5 liquidation wave as the largest since at least October 28 and 29, when Bitcoin fell from nearly $82,000 to $76,000. The different totals reported across outlets are a reminder to check each figure’s time window and publication time.

Market reaction and latest prices

Bitcoin’s intraday plunge was sharper than its later daily change suggests. The figures below are a CoinGecko market snapshot for November 6 at 21:47 UTC, several hours after Decrypt’s report. They show prices and 24-hour changes at that specific time, not the earlier session low.

Asset	Price	24-hour change	24-hour low
Bitcoin (BTC)	$75,743	-0.22%	$74,921
Ethereum (ETH)	$2,227.97	-0.32%	$2,208.54
XRP	$1.18	-3.86%	$1.17
Solana (SOL)	$89.95	-0.09%	$88.35

The Crypto Fear & Greed Index was 28, classified as Fear, on November 6. This is a sentiment reading, not a price forecast. CoinDesk’s report on the liquidation wave noted that leverage amplified a pullback in risk appetite. The reported totals and market prices are snapshots, and they do not by themselves establish what prices will do next.

Liquidation figures should be read alongside their source, time window and methodology. The November 6 reports cited here gave different totals and lows, illustrating why figures from separate snapshots should not be treated as interchangeable.

What to watch next

The Block quoted Wintermute OTC trader Jasper De Maere as saying the factors supporting the post-election rally were short-lived. He cited persistent inflation and escalation in the Middle East as risks. The Block also reported that Wintermute identified $73,000 and $68,000 as levels to watch if Bitcoin weakened further. These are levels cited by a market participant, not forecasts.

When comparing future liquidation reports, readers can check the observation window and the split between long and short positions. Decrypt’s November 6 report showed that longs accounted for 88.2% of its total, while The Block’s four-hour snapshot also showed a majority of liquidations in longs. These figures describe the reported snapshots; they do not establish whether spot buyers are returning or whether broader risk appetite is changing.

Crypto prices can be volatile, and the evidence here includes a report that leverage amplified a pullback in risk appetite. No liquidation count or cited market level establishes what prices will do next.

FAQ

What was reported alongside the crypto liquidations above $1 billion?

Reports described Bitcoin’s decline amid a technology-stock selloff. CoinDesk reported concerns about AI spending and data-center expansion, while also citing a market participant who said a pullback in risk appetite was amplified by leverage.

How low did Bitcoin fall on November 6?

Decrypt reported an intraday low of $74,780.91. Bitcoin.com cited $74,762 in a later report, while a 21:47 UTC market snapshot showed a 24-hour low of $74,921.

What do the crypto liquidation figures show?

They report the value of positions liquidated over a stated period. Decrypt’s report said longs made up 88.2% of its 24-hour total. Reported totals vary by snapshot and publication time, and do not establish Bitcoin’s next direction.

Sources

• Crypto Liquidations Top $1 Billion as Bitcoin Tests 11-Week Low (Decrypt)
• Bitcoin Price Falls Below $75K for First Time Since August as Tech Sell-Off Deepens (news.bitcoin.com)
• Crypto Liquidations Top $1 Billion as Bitcoin Tests 11-Week Low (decrypt.co)

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.