Bitcoin steadies near lows after Binance hack and midterm market jitters
Bitcoin holds near $75,600 after a sharp Thursday selloff driven by weak chipmaker results and outflows from US spot Bitcoin ETFs.
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what happened
According to TradingView, Bitcoin traded at roughly $75,600 on Friday, after falling more than 6% on Thursday from above $80,000. The drop was driven by lackluster chipmaker earnings, a Democratic sweep of Congress, and economic data that reinforced expectations the Federal Reserve will raise rates in December.
Analysts say selling pressure has eased, but there is no clear sign of a sustained recovery. The market is still reeling from a $6.3 billion hack on the Binance Holdings exchange on October 29. Bloomberg data show US spot Bitcoin ETFs logged $430 million in outflows on Thursday, with the Fidelity Wise Origin Bitcoin Fund leading.
Marex analyst Samuel Leyne said a real catalyst is needed to restore confidence. Bitcoin needs to climb back above $77,000 to build momentum, and if equities keep falling, $75,000 is back in play.
why it matters
Crypto is now closely tied to equity sentiment, as selloffs in AI stocks have spilled over into it, partly because many mining companies have pivoted toward AI. Next moves will depend on stocks, ETF flows and basis levels.
market impact
Bitcoin and crypto: ETF outflows and tech-stock weakness keep pressure on prices
- Bitcoin mixed — selling pressure has eased, but demand and ETF inflows remain weak
tags
instruments
on polymarket
sources
- Bitcoin steadies after record hack fallout, midterm turbulence — TradingView, 7 November 2026 at 01:42 UTC
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