Bitcoin Holds Near $76,000 as Tech Selloff and ETF Outflows Weigh on Crypto

Bitcoin traded near $76,000 and Ethereum near $2,240 as crypto markets digested a technology-stock selloff, strong U.S. jobs data and continued withdrawals from U.S. spot bitcoin exchange-traded funds. The Economic Times, in a Nov. 7 update, said Bitcoin was trading at about $76,036 and Ethereum at about $2,244, up 0.6% and 0.8% over 24 hours, while both assets remained under weekly pressure.

The Economic Times linked the cautious tone to falling tech shares, concerns over artificial-intelligence and data-center spending, and uncertainty around U.S. crypto legislation. Separately, CoinDesk reported early Friday that Bitcoin had recovered above $76,000 after dropping below that level during Thursday’s U.S. session, while still being down more than 5.3% over the prior 24 hours at the time of that report. Investing.com later said Bitcoin was trading up 0.59% at $76,103.20 as of 3:13 a.m. ET on Saturday, Nov. 7.

ETF outflows and weekly pressure

U.S. spot bitcoin ETFs recorded large net outflows over consecutive sessions. CoinDesk, citing SoSoValue data, said funds saw $430.2 million in net outflows on Thursday, Nov. 5, led by Fidelity’s FBTC at $199.9 million and BlackRock’s IBIT at $105 million. Those flows reversed Wednesday’s $74.6 million inflow and brought net redemptions for the week through Thursday to $869.8 million, CoinDesk reported.

Investing.com reported that U.S. spot bitcoin ETFs recorded $411.9 million in net outflows on Friday, Nov. 6, a second consecutive withdrawal session, with BlackRock’s iShares Bitcoin Trust accounting for about $403 million in redemptions, partly offset by $42.8 million flowing into Fidelity’s fund. The outlet said November’s net bitcoin ETF withdrawals totaled roughly $1.28 billion through Friday, with Wednesday the only positive session of the month so far. Prices and flow totals are time-stamped figures from the named sources and can change as later data are revised.

Jobs data and the rate-path narrative

The Economic Times cited Delta Exchange research analyst Riya Sehgal saying the October U.S. jobs report showed 165,000 jobs added, above a roughly 65,000 forecast, with unemployment at 4.1% and wages up 0.4% month over month — a combination that may reduce expectations for near-term rate cuts. That jobs print matches the Bureau of Labor Statistics release and CNBC’s report of the same figures. Stronger labor data can support the case for tighter financial conditions, which historically weighs on risk assets including cryptocurrencies, though crypto prices also respond to ETF flows, leverage and equity-market correlations.

Harish Vatnani, country head for India at ZebPay, told The Economic Times that over the past week the crypto market stayed under pressure as the aftermath of a Binance security incident, heavy ETF outflows and a sharp sell-off in U.S. technology stocks outweighed a brief post-election rally. He said the Fear & Greed Index dropped from 50 to 28 and total crypto market capitalization slipped to about $2.6 trillion. The Economic Times said global crypto market capitalization was up 0.4% to $2.64 trillion in its latest CoinGecko-based snapshot, while Bitcoin was down 1.7% over the prior week and Ethereum was roughly flat.

Tech rout, liquidations and support levels

CoinDesk reported that Thursday’s retreat followed a 5.5% slide in the Nasdaq and a 4.3% drop in the S&P 500. FalconX and GSR analysts linked the selloff to concerns that Democrats’ midterm sweep could slow AI data-center construction. Forced selling amplified the decline: more than $1.26 billion in leveraged cryptocurrency positions were liquidated in a 24-hour window cited by CoinDesk, including about $1.12 billion in long positions, according to CoinGlass. Investing.com similarly cited more than $1.27 billion in derivatives liquidations, including over $1.1 billion in bullish bets, during Friday’s earlier trading window.

Vatnani told The Economic Times that Bitcoin was about 40% below its all-time high of around $126,000 set in early October 2025 and was trading just above the $75,000 support area near the September low. Investing.com said traders were watching $80,000 as a nearby recovery marker and $73,000 as a possible downside level. Those levels are market observations reported by the sources, not predictions.

Among major altcoins in The Economic Times snapshot, BNB, Solana, Hyperliquid, Dogecoin and Cardano gained up to 1.8% over 24 hours, while XRP and Tron corrected about 1.3% and 0.1%. Investing.com’s Saturday snapshot put Ether near $2,247.99, Solana near $90.22 and BNB near $695.23. Cryptocurrency prices are continuous and can diverge quickly from any single report’s timestamp.

Sources: The Economic Times, Nov. 7, 2026; CoinDesk, Nov. 6, 2026; Investing.com, Nov. 7, 2026.