Bitcoin Recovers Part of Losses After Tech Stock Selloff
Bitcoin rose 0.5% to $76,122 after hitting its lowest level since mid-September. Dow Jones Newswires links the dip to tech stock losses and US jobs data expectations.
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what happened
Bitcoin recovered slightly after overnight trading took it to a seven-week low, driven by a selloff in tech stocks, Dow Jones Newswires reports. Concerns that the Democratic sweep in the US midterm elections could slow artificial intelligence investment hit tech shares and weighed on risk-sensitive assets, including cryptocurrencies. A rebound in oil prices on renewed worries about the Middle East conflict also dampened risk appetite.
In European morning trade, bitcoin added 0.5% to $76,122 after falling to $75,131 overnight, its lowest level since mid-September, according to LSEG data. Ether rose 0.4% to $2,235 after touching a one-week low of $2,206. US stock futures pointed to a recovery in the Nasdaq, which offers some support to bitcoin.
The next key event is the US nonfarm payrolls report, due at 1330 GMT. Naeem Aslam, chief investment officer at Zaye Capital Markets, said in a note that strong jobs and wage growth could reinforce expectations of Federal Reserve rate increases and lift the dollar, pressuring bitcoin. Weaker data, he said, could revive hopes for lower rates.
why it matters
Bitcoin is currently trading in step with tech stocks and reacting to expectations for Federal Reserve policy, so the October jobs report may set its direction. Economists polled by The Wall Street Journal expect payrolls to rise by 59,000 after a 29,000 gain in September, with unemployment at 4.2%.
market impact
Crypto: risk appetite depends on tech shares and US jobs data
tags
instruments
on polymarket
sources
- Bitcoin Edges Higher, Recovering From Earlier Tech-Driven Losses — Dow Jones Newswires, 6 November 2026 at 10:45 UTC
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