Coinidol.com: Post-Election Rally Fades as Bitcoin Drops 6% to $75,600

The brief post-midterm relief rally on November 6, 2026, while a broad sell-off across traditional financial markets triggered a sharp risk-off pull-back in cryptocurrencies.

Bitcoin fell 6% within a 24-hour window to $75,620, while total crypto market capitalization contracted 4.9% to $2.65 trillion. 

The sudden market reversal caught short-term leverage off guard following earlier weekly gains that had briefly elevated Bitcoin back above the $80,000 baseline. Sharp pull-backs across U.S. equity indexes and international markets (including a brief trading halt on South Korea’s KOSPI index following tech sector volatility) sent shockwaves through risk assets.

Derivatives Expiry Impact

Furthermore, the sell-off coincided with the expiry of 33,135 Bitcoin options contracts on Deribit (valued at roughly $2.65 billion). 

Ethereum experienced a steeper decline than Bitcoin, sliding 7.8% to $2,228. Ripple’s XRP fell toward its lowest levels since August, while high-beta altcoins such as Hyperliquid (HYPE) dropped below $80 following profit-taking by major whale accounts. 

Metrics Shift Into Fear Zone

The rapid market downturn caused a notable shift in sentiment indicators across retail and institutional trading desks. The sentiment index dropped 22 points overnight, moving from a Neutral reading of 50 to a Fear rating of 28 — reflecting a fast transition toward defensive positioning.

According to the reports, technical analysts are watching the $73,160 to $75,000 support zone, which coincides with Bitcoin's 200-day moving average. Market structure remains intact above this threshold, but a daily close below $73,000 would mark a deeper structural breakdown heading into mid-November. 

Despite short-term volatility, institutional spot volume hovered near $44.1 billion for Bitcoin, indicating active liquidity provision as market participants process shifting macroeconomic signals following the election.

Lewis Huang, Analyst at Bitget, commented:

"A stronger-than-expected payrolls print, particularly if accompanied by faster wage growth, would reinforce expectations of a December rate hike, which markets already price at around 80%, and could push Treasury yields and the dollar higher as investors reassess the possibility of further tightening. For Bitcoin, that would put recent lows back in focus."

Disclaimer. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds. Brought from CoinIdol.com.