Bitcoin plunged below $76,000 on Friday, wiping out this week’s rebound above $80,000 and extending a sharp post-midterm selloff across crypto markets.
Bitcoin was trading at about $76,044 on Friday, down 5.27% on the day after opening at $80,271.79, according to market data. The fall took the world’s largest cryptocurrency to its lowest level in weeks and left it down 3.34% over five days and 11.47% over the past month.
A week of whiplash
The drop reverses the recovery seen earlier in the week, when bitcoin climbed back above $80,000 after the US midterm elections. That rebound lasted barely a day. Friday’s slide came as US stocks also fell sharply — the Nasdaq dropped 5.52% on Thursday — with investors pulling back from riskier assets across the board.
Bitcoin’s market capitalisation stood at about $1.61 trillion. The cryptocurrency is now down 14.75% so far in 2026 and 25.27% over the past year, a long way from the highs that drew in a wave of new buyers.
What traders are watching
Attention now turns to the US October jobs report, due at 8:30 a.m. Eastern Time on Friday, and to next Tuesday’s consumer inflation report, which could shape expectations for the Federal Reserve’s December meeting. Traders expect another interest-rate increase in December, and the Fed’s benchmark rate currently stands at 3.7%.
Crypto markets have moved in step with stocks in recent sessions, and analysts say bitcoin is unlikely to stabilise until the broader selloff eases. For holders, the lesson of the week is familiar: in crypto, a $4,000 swing in a day is not unusual — but it is still painful.
Related: Bitcoin Rebounds Above $80,000 After Midterm Election Selloff | Ethereum Jumps 7.5% to $2,428 as Crypto Market Rebounds
Sources: Finnhub Bitcoin market data (6 Nov 2026, current price $76,044.01, -5.27%); GoldRate.app crypto snapshot (6 Nov 2026). Prices are indicative market data, not investment advice.
