Bitcoin plunges below $76,000 as $250M in positions liquidated
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Institutional outflows and liquidations signal waning confidence in Bitcoin, potentially impacting its stability and future growth prospects.
Photo: Rafael Minguet Delgado / Pexels
Leveraged longs took the brunt of the selloff as spot Bitcoin ETF outflows and a weaker Nasdaq weighed on risk appetite
Wed 4 Nov 2026 · 00:19 EST · 2 min read
In Technology
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Bitcoin slipped under $76,000 for the first time since mid-September. Nearly $250 million in leveraged crypto positions were liquidated on the way down.
How the selloff unfolded
The drop played out over November 3 and 4, 2026, with Bitcoin printing lows in the mid-$76,000 range before breaking below the $76,000 mark. It traded at times between $76,400 and $76,700, down around 2% on the day.
Broader tallies of the crypto market put total liquidations at approximately $366 million. About $100 million of that was tied to Bitcoin positions specifically.
Long positions made up roughly 70% of the total. Translation: the people wiped out were mostly the ones betting prices would keep climbing.
Market data suggests the deleveraging reflects individual positions getting flushed rather than a deeper structural breakdown.
ETF outflows add weight
US spot Bitcoin ETFs saw $398.6 million in net outflows on November 2, the session right before Bitcoin broke lower.
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BlackRock’s IBIT alone accounted for $405.3 million in withdrawals. That figure sits above the net total, which means some other funds took in money while IBIT bled it.
IBIT’s latest outflow also followed earlier, larger withdrawals from the fund.
The outflows have been read as a sign of fading institutional appetite amid uncertainty over macroeconomic conditions and interest rates.
The Nasdaq fell 1.1% in a single session, adding pressure across tech equities and digital assets alike.
Where the market goes from here
The level to watch is the $77,000 to $77,500 band, which had been viewed as key near-term support. With Bitcoin now trading below it, that zone has flipped from a floor into a ceiling.
The heavy concentration of long liquidations cuts two ways. On one hand, a lot of overextended bullish leverage has now been cleared out, which can reduce the fuel for another cascade.
ETF flows are probably the more important signal for the medium term. Liquidations are a one-day event; sustained institutional selling through products like IBIT reflects a slower, more deliberate shift in how large investors view the asset.
Bitcoin (BTC) price Full chart and stats
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CoinGecko data as of Nov 4, 1:24 AM EST.
Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.
