Historical market snapshot: November 6, 2026, at 21:29:20 UTC+8. Based on Tyler Warner’s Morning Minute newsletter for Decrypt; its analysis and opinions are his own.
Price: Bitcoin reverses its post-election rebound
In the Thursday session described in the newsletter, Bitcoin fell 5.4% to $75,871, slipping below its pre-election level after trading above $80,800 on Wednesday.
The decline extended across major crypto assets. Ethereum dropped 7.6% to $2,239, XRP lost 9.8%, and Hyperliquid fell 4.9%. The CMC20 index declined 6.29%. The newsletter reported more than $1.1 billion in crypto long liquidations over 24 hours, followed by a slight overnight relief rally.
Those liquidation figures document the scale of forced position closures during the selloff; they do not, by themselves, establish what initiated the decline.
Equities and volatility: sharp losses in AI-linked stocks
The crypto retreat coincided with substantial U.S. equity losses:
- S&P 500: down 4.36%, its worst session since the April 2025 Liberation Day tariffs.
- Nasdaq: down 5.52%, closing more than 10% below the previous month’s record.
- Dow: down 1,833 points.
- iShares Semiconductor ETF: down more than 12%, its worst day since March 2020.
Micron fell 17.5%, AMD 17.3%, Marvell 16.4% and Nvidia 9.3%. The Magnificent Seven lost roughly $1 trillion in market value, while the broader U.S. stock market lost $3 trillion by the close.
The VIX reached 28.09 intraday, its highest level since March.
Warner attributed the equity-market reversal to concerns about slower data-center permitting and tighter oversight following Democratic election wins in states with local opposition to construction. Swissquote’s Ipek Ozkardeskaya said: “We suspect there is going to be some scrutiny on this aggressive AI buildout.” That was a reported interpretation of the session, not proof of a single cause for crypto’s losses.
ETF flows: withdrawals alongside the selloff
Bitcoin ETFs recorded $430 million in net outflows on Thursday, while Ethereum ETFs saw $100 million in outflows.
These flow readings were separate observations alongside falling prices. The newsletter did not establish that ETF withdrawals caused the market decline.
Relative performance: privacy assets fell less
Zcash declined 0.8% and Monero 2.2%, smaller losses than the broad crypto market; both remained positive for the week.
Over the preceding year, the newsletter reported Zcash up 146% and Monero up 74%, compared with Bitcoin down 26% and Ethereum down 34%. That showed relative strength over those specific windows, not immunity to wider market weakness.
At publication, Friday’s October jobs report was still ahead. The snapshot therefore captured conditions before that release, rather than a response to its results.
Original article: Decrypt — Morning Minute: Bitcoin Erases Election Rally as AI Stocks Crater