Bitcoin fell 5.4% to $75,871 during the Thursday selloff described in Decrypt’s November 6, 2026 newsletter, dropping below its pre-election trading level. A day earlier, it had climbed above $80,800 as stocks posted their strongest session in three months.
The reversal coincided with sharp losses in U.S. technology shares, roughly $1.1 billion in reported crypto long liquidations and outflows from Bitcoin and Ethereum exchange-traded funds.
Historical report: Based on Tyler Warner’s Morning Minute, published by Decrypt on November 6, 2026, at 21:29:20 UTC+8. Prices and upcoming events below reflect that reporting window.
AI stocks led the equity decline
The S&P 500 fell 4.36%, its worst session since the Liberation Day tariffs in April 2025. The Nasdaq dropped 5.52%, closing more than 10% below the record it had reached the previous month. The Dow lost 1,833 points.
Semiconductor stocks suffered particularly steep losses:
- The iShares Semiconductor ETF fell more than 12%, its worst day since March 2020.
- Micron lost 17.5%, AMD 17.3% and Marvell 16.4%.
- Nvidia declined 9.3%.
The Magnificent Seven shed roughly $1 trillion in market value. Across U.S. equities, the newsletter put the day’s loss at $3 trillion—more than the entire crypto market’s capitalization. The VIX touched 28.09 intraday, its highest level since March.
One election result, two market reactions
Warner’s analysis connected Thursday’s reversal to a reassessment of the Democratic congressional victory that markets had welcomed on Wednesday.
Several states where Democrats won had active local opposition to data-center construction. According to the newsletter, investors began pricing in slower permitting and tighter oversight of AI infrastructure expansion.
“We suspect there is going to be some scrutiny on this aggressive AI buildout,” Swissquote’s Ipek Ozkardeskaya said.
That was the report’s explanation for the shift in sentiment, not proof that the election result alone caused every market move. The contrast was nevertheless sharp: the same political outcome accompanied a rally in one session and a selloff in the next.
Crypto losses extended beyond Bitcoin
Ethereum dropped 7.6% to $2,239, a larger percentage decline than the Nasdaq. XRP lost 9.8%, Hyperliquid fell 4.9%, and the CMC20 index declined 6.29%.
The newsletter reported roughly $1.1 billion in crypto long liquidations before a slight overnight relief rally. It also recorded $430 million in net outflows from Bitcoin ETFs and $100 million from Ethereum ETFs on Thursday.
Those figures document leveraged-position closures and fund withdrawals during the selloff. They do not establish how much of Bitcoin’s decline either channel caused.
Privacy coins showed relative resilience
Zcash fell 0.8% and Monero 2.2%, smaller declines than the broader market. Both remained higher for the week.
Their longer-term performance also diverged: over the preceding year, Zcash was up 146% and Monero 74%, while Bitcoin was down 26% and Ethereum 34%, according to the newsletter. That contrast showed relative strength in those two assets, not a market-wide recovery.
At the time of publication, Friday’s October U.S. jobs report was the next scheduled macroeconomic event highlighted by Warner. The two-session reversal illustrated how quickly market interpretations could change; it did not establish a durable cycle turning point.
Original article: Decrypt — Morning Minute: Bitcoin Erases Election Rally as AI Stocks Crater
