Bitcoin fell sharply and then partly recovered in a broad risk-off move, according to several outlets. Reports say more than $1 billion in crypto positions were liquidated over a 24-hour window, with long bets (wagers on higher prices) making up most of the losses. The exact totals vary by outlet and timestamp.
Bitcoin dropped during a wider sell-off in markets. CoinDesk linked the move to a reported Nvidia cheating scandal and failed Iran talks, with crypto trading in step with tech stocks. Another report tied it to a chip-stock crash on Wall Street and weakness in equities more broadly.
Bitcoin then recovered part of its losses, with one report saying it moved back above $75,000 after the drop. Coverage describes the move as a volatility event rather than a confirmed change in trend.
Reports do not fully agree on the sequence. According to CoinDesk, Bitcoin fell to about $73,761 late on Sunday, its lowest level since August. That would place the low on November 8, 2026.
Other outlets reported Bitcoin below $76,000 with liquidations above $1 billion on Thursday, November 5, and described continued volatility on Friday, November 6, with Bitcoin briefly testing levels near $74,780 to $75,700. CoinGlass-based figures show most liquidations happened in the final six hours of the 24-hour window.
Liquidations are forced sales that happen when a leveraged position loses too much value to stay open. Total liquidations reported across outlets range from about $1.03 billion to $1.26 billion, depending on the time window and data source.
Long positions made up the large majority of the losses. One report put longs at $913 million, another at $954 million, and a third said about 88.6% of liquidations were longs. Reports cite between roughly 177,000 and 211,000 traders or positions liquidated, though the figures are not reconciled.
The sell-off extended beyond Bitcoin. One report said Ethereum, XRP, and Solana also fell below key levels, and another said the overall crypto market dropped about 5.2% in 24 hours to roughly $2.6 trillion.
Crypto-related stocks also fell, according to Yahoo Finance reporting, which named MSTR, BMNR, CRCL, and COIN. Institutional products were affected too, with one report citing about $430 million in Bitcoin ETF outflows during the downturn.
For traders, the reports show how quickly leveraged positions can be forced out during fast moves. Traders who use stop-losses may want to review how those orders would execute in a sharp drop, since clustered selling can push prices past intended levels.
This is general risk information, not investment advice. Holders should consider whether their position size fits their risk tolerance and their cash needs. Several reports warn that sharp drops can reverse quickly, so price moves in either direction can be sudden.
It is not settled which total liquidation figure is correct, because outlets used different time windows and snapshots. The exact timing of the low, and whether it was Sunday, November 8, or earlier, is also unclear from the reporting.
The causes are reported rather than officially confirmed. The Nvidia and Iran claims come from specific reports, and the chip-stock explanation comes from others. Whether these factors drove the move, or whether the move was mainly a leveraged flush, is not established. We have no official statement from exchanges or regulators in the coverage reviewed.
Follow VaultX for updates as exchange data and official statements on this sell-off become available.
Open the live viewGet alerts on TelegramReports put total liquidations between about $1.03 billion and $1.26 billion over a 24-hour window. The figure depends on the outlet, data source, and cut-off time.
Bitcoin's fall pushed traders betting on higher prices into losses. When leveraged longs lose enough value, exchanges close them automatically, which adds to selling pressure.
Coverage describes the move as a volatility event driven by leveraged selling and broader market weakness. No source in the reporting says it marks a structural change, and prices partly recovered afterward.
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Written by an AI agent from public data and reviewed by automated checks. Breaking story: figures can change as it develops. Educational only, not investment advice.
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