Crypto news today, 6 November 2026: why bitcoin fell, and nine other stories

Crypto Eyes · 6 November 2026 · 13 min read · Markets

Bar chart of Thursday 5 November losses: Nasdaq down 5.52%, Nvidia 9.26%, Coinbase 9.69%, bitcoin 5.49%, ether 7.70% and XRP 7.51%

Bitcoin closed Wednesday at $80,504 after the US midterm results. Thursday's close was $76,088, and on Friday afternoon it dipped to $74,888 on Binance, its lowest since August. Most coverage blamed Wall Street, where the Nasdaq had its worst day since April 2025, and a pile of leveraged bets on higher prices made the fall worse as they were wiped out. The other nine stories run from a $6.4 billion hack that is still being laundered to an Ethereum upgrade that has lost its date.

The ten, in the order we would read them:

Why is crypto down today? The AI selloff reached bitcoin
Spot bitcoin ETFs lost $430 million in a day
A hot jobs report pushed December hike odds back up
The Binance hackers are buying bitcoin with stolen coins
Crypto's House ally kept his seat but is set to lose his chair
The CFTC told exchanges to stop blocking states or explain why
The $250 travel rule plan is dead
Trump Media moved 4,259 bitcoin to Crypto.com
Ethereum's Glamsterdam upgrade stays on hold
The day's outliers were small Binance futures

1. Why is crypto down today? The AI selloff reached bitcoin

On Thursday the Nasdaq Composite fell 5.52% and the S&P 500 lost 4.36%. Nvidia alone closed 9.26% lower. CNBC said investors were worried the midterm results could slow down data-centre construction, the spending that has carried chip stocks.

Crypto went down with them. On Binance, bitcoin opened Thursday at $80,504 and closed the UTC day at $76,088, a drop of 5.5%. Ether fell 7.7% to $2,238 and solana 6.6% to $89.33. XRP lost 7.5% to $1.2072. Ether was the worst of the four by a hair.

GSR's Carlos Guzman told CoinDesk the midterms appear to have set it off. Wintermute, quoted by The Block, said bitcoin needs to get back above $80,000 before it turns more positive, and named $73,000 and then $68,000 as the levels it's watching below.

CoinGlass data showed about $1.08 billion in liquidations over 24 hours by Thursday evening, and a reading on Friday morning put it at $1.26 billion, with $1.116 billion of that in long positions. Nearly nine in ten liquidated dollars were bets on a rise. The single biggest was a $10.94 million ether long on Binance. Those two readings overlap and describe the same flush. CoinGlass totals are estimates and can run low.

Crypto shares fell harder than the coins. At Thursday's close Coinbase was down 9.69% and Strategy 9.29%. Miners fell further: Bitdeer lost 18.7% and Keel Infrastructure 21.4%.

By Friday the selling had slowed. At 18:40 UTC bitcoin was at $75,899, down 0.42% over 24 hours, so the damage was Thursday's. Ether was at $2,231.58 and XRP at $1.1871, still down 3.9%. Solana was up 1%. CoinGecko put the whole market at $2.57 trillion, down 2.56% on the day, and the Crypto Fear & Greed Index read 28, from 50 a day earlier.

2. Spot bitcoin ETFs lost $430 million in a day

US spot bitcoin ETFs had net outflows of $430.2 million on Thursday, according to Farside data. Fidelity's FBTC lost $199.9 million, BlackRock's IBIT $105 million, Grayscale's GBTC $49.9 million and Franklin's EZBC $32.9 million. VanEck's HODL and ARK's ARKB made up the rest. Every other fund was flat.

IBIT has now had five losing sessions in a row, about $1.04 billion out since 30 October. SoSoValue puts the funds' cumulative net inflow at $56.11 billion, roughly $500 million below where it stood at the end of 2025. For 2026 so far, in other words, more money has left these funds than come in.

Ether funds went the same way: $99.97 million out on Thursday, most of it from BlackRock's ETHA ($75.2 million), a day after $53.02 million came in. Solana ETFs lost $1.2 million and the XRP funds didn't move. From Monday to Thursday, bitcoin and ether ETFs together lost about $1.14 billion.

3. A hot jobs report pushed December hike odds back up

The US economy added 165,000 jobs in October, the Bureau of Labor Statistics said on Friday. Economists polled by Reuters had expected 65,000. Unemployment was 4.1% and average hourly pay rose 0.4% to $38.00. August and September were revised up by 84,000 jobs between them.

Market-implied odds of a rate hike at the Fed's December meeting rose to 78% from 70%, Reuters reported. That only undoes part of Thursday, when Decrypt reported December hike odds falling from 82.7% to 70.1% during the stock rout. The Fed held its range at 3.75% to 4.00% on 28 October, and both dissenters wanted a hike.

Bitcoin barely reacted to the release itself. It briefly traded above $76,100 just after 13:30 UTC, and its low of the day, $74,888, came in the 15:00 UTC hour, after Wall Street opened. Nothing links that dip to the report.

4. The Binance hackers are buying bitcoin with stolen coins

Binance lost $6.43 billion in a hack on 29 October, by Elliptic's count. The FBI has attributed it to the North Korean group it calls TraderTraitor. North Korea denies it.

In an update at 08:45 UTC on Friday, Elliptic said the attackers had converted other stolen assets into about 1,650 BTC, worth roughly $124 million, now sitting in fresh bitcoin addresses. Some 42 million XRP ($50 million) has been swapped, mostly through THORChain, while 192 million XRP ($226 million) hasn't been swapped yet. The 18,270 BTC taken in the hack itself hasn't moved.

Elliptic counts more than 20,000 wallets on 16 blockchains. The funds have passed through at least 36 services in at least 65,000 transactions, much of it automated, though Elliptic has seen no sign of AI agents making the calls. About $2.85 billion, 44% of the haul, has been frozen or seized, mostly stablecoins that Tether and Circle locked within an hour of the theft, Decrypt reported from Elliptic's figures. After the $1.5 billion Bybit hack in February 2025 only about 3% was frozen. Roughly $3.11 billion still sits in linked addresses, and Elliptic says only a negligible amount looks to have been cashed out.

Binance said on X on Friday that it is working to reopen withdrawals for HYPE, INJ, APT, PLASMA, NEAR and LTC, and for every token on networks it has already restored, by the end of next week. Binance did not commit to a specific day. Its Recovery Updates #8 and #9 reopened withdrawals for more tokens on the Ethereum and BNB Chain networks on Thursday and Friday.

If you get exchange news or crypto trading signals on Telegram, use the exchange's own channel. Cloned announcement channels turn up after hacks, and our list of crypto Telegram signal channels marks which ones are official.

5. Crypto's House ally kept his seat but is set to lose his chair

The Associated Press called Arkansas' 2nd district for Republican Rep. French Hill on Thursday, 127,450 votes to 123,092 for Democrat Chris Jones in the unofficial count, with about 99% counted. Hill chairs the House Financial Services Committee and sponsored the CLARITY Act, the crypto market-structure bill.

He is unlikely to chair it in January. Democrats are projected to control the House, and Maxine Waters is the leading contender for the committee, Reuters reported via Cointelegraph. Hill would most likely stay on as the panel's top Republican.

In the Senate, the Wall Street Journal reported, according to crypto.news, that Elizabeth Warren is expected to chair the Senate Banking Committee from January 2027, though Senate Democrats haven't assigned their posts yet.

The Senate failed to advance the CLARITY Act in September. Anything still unpassed when the new Congress sits on 3 January starts over, and the committees that would take it up are expected to be run by two of its best-known critics.

6. The CFTC told exchanges to stop blocking states or explain why

In release 9323-26 on Thursday, the CFTC said geographic restrictions inside the US are inconsistent with the Commodity Exchange Act's impartial-access rule for designated contract markets. Exchanges have 30 days to drop them or explain to the Division of Market Oversight why they can't. The agency will weigh enforcement case by case.

The release doesn't mention prediction markets, but CoinDesk reads it as aimed at exchanges such as Kalshi and Polymarket, and notes that it runs against recent court rulings. Those exchanges now face pressure from both sides. On Wednesday a federal judge in California barred Kalshi's sports contracts on two tribes' lands, and Arkansas Attorney General Tim Griffin sued Kalshi for illegal gambling, The Block reported.

The commission currently has one sitting member, Chairman Michael Selig. Sen. Adam Schiff criticised the move on Friday as an attempt to undercut state law and the courts.

7. The $250 travel rule plan is dead

FinCEN and the Federal Reserve have filed a notice withdrawing a 2020 proposal that would have cut the threshold for collecting and passing on sender and recipient details on cross-border transfers from $3,000 to $250. The same plan would have spelled out that the rules cover crypto. It applied to all funds transfers, so it was never a crypto-only rule.

The joint notice, filed for public inspection on Friday morning, gives two reasons: more than five years have passed since the nearly 3,000 comments came in, and the industry has changed, with the GENIUS Act as its example. The $3,000 threshold stays and still applies to crypto. The withdrawal takes effect when it's published on Monday 9 November.

8. Trump Media moved 4,259 bitcoin to Crypto.com

At 02:17 UTC on Thursday, wallets labelled "2028 Convertible Notes Collateral" sent 2,140.03 BTC and 2,119.31 BTC to an address Arkham attributes to Crypto.com, CoinDesk reported. That was about $342 million at the time, by Arkham's estimate. Trump Media's second-quarter filing listed 4,260.73 BTC pledged against those notes, and about 1.4 BTC was left behind.

The transfer came 25 days before a repayment date. A filing on 2 November says noteholders can ask to be repaid on 30 November, which comes to about $1 billion if all of them do, and it warns the company may need to sell bitcoin or other digital assets to pay. A transfer isn't a sale, though. The company moved about 2,650 BTC in May and 2,628 BTC in August and said each time that nothing was sold. It didn't comment to CoinDesk this time. The shares closed at $4.02 on Thursday.

Labelled wallets like these are the starting point if you want to know how to track crypto whales on bitcoin. Our own crypto whale tracker follows large DEX swaps on Solana, BNB Chain, Base and Arbitrum and doesn't watch bitcoin wallets, so this one came from Arkham's labels.

9. Ethereum's Glamsterdam upgrade stays on hold

The Ethereum Foundation published a post by Marius van der Wijden on Friday. Audits by ChainSecurity found a few deployed projects that would become vulnerable after the Glamsterdam fork, because two of its proposals, EIP-8037 and EIP-8038, change how gas is charged for some operations and for state. Core developers are keeping the upgrade paused, so the Hoodi testnet won't fork yet, and there is no new date for Hoodi or for mainnet.

The Foundation has published a list of eight gas assumptions the fork breaks and asks contract teams to check their code against it and email glamsterdam@ethereum.org if they're affected. ChainSecurity and Dedaub are auditing alongside the Foundation's own reviewers, and the post says that can't cover every project. Hoodi was due to fork on 26 October before a postponement on 22 October, so Friday's post extends a delay that was already running. Work on the next upgrade, Hegota, carries on in parallel. Our piece on Ethereum's priority ladder covers where these upgrades sit.

10. The day's outliers were small Binance futures

On a red day the crypto gainers today were small tokens on Binance futures. UnifAI Network (UAI) opened the 24-hour window at $0.0927 and peaked at $0.25. By 18:40 UTC it stood at $0.1729, 31% below that peak and still up 86.5%, on $340 million of trading. Its futures volume was 5.5 times the previous day's. Akedo (AKE) went from $0.002239 to a high of $0.006351 and was up 77.2% at the same time, on $636 million.

CYBER rose 49.1%, but its volume is the stranger number. In the 24 complete hours to 18:00 UTC its futures traded $272.3 million, against $1.81 million in the 24 hours before, about 150 times as much. Our crypto volume spike scanner flags jumps like this one as they happen.

Binance posted no listing or futures notice for UAI or CYBER. Two scheduled events fell in the same window, though neither accounts for moves this size: a UAI investor token unlock was scheduled for 6 November, and Binance reopened CYBER withdrawals in stages on Thursday and Friday as part of its hack recovery.

Also on Thursday and Friday

Samsung Wallet now holds USDC. Samsung said on Thursday that its Stablecoin Account is live for eligible Galaxy users in the US, who can now buy, hold, send and receive Circle's USDC in the phone's default wallet. Bastion runs the accounts and Coinbase holds the USDC as sub-custodian. Users need Android 13 or later and can't be in New York; Samsung counts 82 million compatible US devices. Balances aren't FDIC or SIPC insured. Visa and Mastercard are working on their own stablecoin plans.

Base now makes a block every 200 milliseconds. Coinbase's layer-2 activated its Denim upgrade on Thursday, scheduled for 18:00 UTC and confirmed at 18:14. Blocks used to come every two seconds, so any contract that counts time in blocks, such as a timelock or a voting window, now runs about ten times faster in real time. Right after the switch Base's status page reported transaction-inclusion delays and empty blocks. A separate node fix released the same day, v1.5.3, corrected a state-root bug that Base says didn't affect users.

South Korea wants to delay its crypto tax again. Finance Minister Lee Hyoung-il said on Thursday that the government will seek to push the 22% tax on crypto gains above 2.5 million won (about $1,900) from January 2027 to 2029. It would be the fourth delay. Parliament still has to change the law.

Dates to watch

Monday 9 November: the FinCEN and Fed withdrawal is published and takes effect.
End of next week: Binance's target for reopening HYPE, INJ, APT, PLASMA, NEAR and LTC withdrawals.
30 November: Trump Media's noteholders can ask for their money back.
Early December: the CFTC's 30-day window closes, and the Fed meets later that month.
3 January: the new Congress sits, and unpassed bills start over.

How this roundup was put together

Prices and volumes come from Binance's public market data, taken at 18:40 UTC on 6 November unless another time is given. The CYBER and UAI volume multiples are our own sums of Binance's hourly candles. The reporting we relied on is linked below.

Binance is also one of the exchange feeds behind our board of live crypto prices. The crypto screener sorts the same real time crypto prices by move and turnover, which makes it a crypto volume tracker as well. The crypto market today page has the day's summary, and the crypto market cap comparison tool sizes one coin against another. This is news and market data, not financial advice.

Sources

bitcoin etf flows macro regulation security market data