Original report published November 6, 2026, at 19:16:53 UTC+8. This is a historical market snapshot, not a live update.
Bitcoin steadies near its 50-week average
Bitcoin held above $75,000 on Friday, November 6, after falling as much as 6.6% on Thursday, according to Cointelegraph. TradingView data placed BTC/USD near its 50-week simple moving average of $75,733.
That stabilization contrasted with continued selling in Asian equities following a sharp US technology-stock decline. It did not, by itself, establish a broader recovery or a break from Bitcoin’s increasingly positive correlation with the S&P 500 in recent months.
South Korea responds to forced-selling risk
South Korea’s KOSPI fell more than 8% shortly after Friday’s open, triggering a 20-minute circuit-breaker halt. It subsequently pared its losses, closing 6% lower at 5,059.69 points, its lowest close since March 31.
At an emergency meeting, Deputy Prime Minister and Finance Minister Lee Hyoung-il announced measures intended to reduce forced selling. Local media reported that brokerages would receive a three-month exemption from the 140% collateral-ratio requirement on margin loans, starting Monday. Authorities said they would prepare further measures if volatility increased.
Chosun quoted an unnamed government source describing global equity volatility following the US midterm elections as serious, while arguing that South Korea’s market had reacted excessively to external factors.
AI-policy concerns frame the equity sell-off
On Thursday, the S&P 500 fell 4.4% and the Nasdaq Composite declined 5.5%. The Philadelphia Semiconductor Index, which tracks 30 semiconductor companies, closed 12.2% lower.
Analysts linked the losses to concerns about tighter US artificial-intelligence regulation after Democrats won the House and Senate, alongside existing worries about AI-sector capital spending. That was an attributed explanation for the sell-off, not an established single cause.
The Kobeissi Letter cited Democratic Representative Yassamin Ansari’s call for a “pause on advanced AI development,” but argued that an outright US AI ban was highly unlikely because of competition with China. It characterized Thursday’s decline as “more technical than fundamental” and noted that the S&P 500’s decline excluding technology was about 2.5%.
Economist Mohamed El-Erian, writing on Substack, called for common ground on AI policy. He argued that the US approach supported productivity and national-security goals but had fallen short on safety, diffusion and public acceptance. He attributed the backlash to genuine concerns, information failures and behavioral factors.
The snapshot therefore showed different conditions across markets: Bitcoin steadied near a long-term price average, while technology equities remained under pressure and South Korean authorities moved to ease collateral constraints. Those observations did not establish that selling pressure had ended.