Over $1 billion in bullish bets liquidated while ETF flows suggest no help in spot market
Source: CoinDesk ·
From the source
Your day-ahead look for Nov. 6, 2026 This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here , if you haven't already. Bitcoin's BTC $76,242.59 post-midterm bounce is fading. The cryptocurrency is down about 5.2% over the past 24 hours, now trading around $76,100. The broader CoinDesk 20 ( CD20 ) index is down 6.17% over the same period, as pressure from the AI trade weighed on prices. The Nasdaq fell 5.5% on Thursday, its worst session since April 2025, and the selling carried into Asia, where South Korea's Kospi dropped as much as 8.8%, triggering a 20-minute trading halt. With Democrats now controlling both chambers of Congress, investors worry that stronger opposition to data-center construction could slow the AI buildout. That weighs on bitcoin miners, many of which have pivoted to AI computing . Leverage deepened the decline with more than $1.27 billion in crypto derivatives positions being liquidated over the past 24 hours. More than $1.1 billion of that were…
BestAIBroker analysis
- Finance-aware sentiment: negative (-0.60 on a -1 to +1 scale).
- Event classification: OTHER.
- Market importance score: 29/100, weighting entity relevance, source credibility, multi-outlet coverage and recency.
- Symbols referenced: BTC.