Bitcoin\u2019s sudden price surge on Wednesday has reversed into a similarly painful decline to under $77,000 just minutes after Wall Street\u2019s trading hours commenced.<\/p>\n
The altcoins have followed suit as they typically do, and the total value of wrecked positions has skyrocketed to almost $500 million in a single hour.<\/p>\n
What a time to be an investor. The past 24-36 hours have been extremely volatile for all financial markets, and crypto is no exception. As the US midterms concluded and the Democrats secured a decisive win<\/a>, BTC slumped to a seven-week low of $75,600 on Wednesday morning. By that afternoon, the cryptocurrency had erased the losses before it went on a wild run to $81,000, leaving $380 million in shorts wrecked<\/a>.<\/p>\n A quick rejection followed at $81,000, but BTC still managed to remain above $80,000. That is, until an hour ago, when the bears took control of the market again. In just minutes, the leading cryptocurrency plunged by several grand and dumped below $77,000 and toward $76,000.<\/p>\n <\/a>BTCUSD November 5. Source: TradingView<\/p>\n The calamity has taken the altcoins south as well. ETH is currently down by 7% on a 24-hour scale, plummeting below $2,300 after it neared $2,500 yesterday. XRP is down by over 5% to $1.25, HYPE has nosedived by 10%, DOGE by 6.5%, and SOL by 6%.<\/p>\n As expected, such massive market turbulence has harmed over-leveraged traders (again). Data from CoinGlass showed that the liquidations in the past hour alone totaled over $560 million, with $530 million coming from longs. More than 165,000 traders have been wrecked within the past day, while the single-largest liquidated order took place on Hyperliquid and was worth $6.62 million.<\/p>\n <\/a>Liquidation Data on CoinGlass<\/p>\n The crypto crash is not an isolated case, as Wall Street leads the pack. The Kobeissi Letter just reported that the S&P 500 alone has erased $2.2 trillion over the past hour. Just for reference, the cryptocurrency market\u2019s entire capitalization is at $2.6 trillion.<\/p>\n Moreover, the analysts added that today\u2019s calamity is now \u201cdouble the size of yesterday\u2019s post-election rally.\u201d Separately, they warned that the Nasdaq 100 is just 6% away from officially entering a bear market. The index has plunged by over 4.4% since opening an hour ago, going from over 28,000 to 27,180. It\u2019s down by 13% since its peak a month ago.<\/p>\n BREAKING: The S&P 500 has now erased -$2.2 trillion over the last 55 minutes.<\/p>\n Today\u2019s decline is now double the size of yesterday\u2019s post-election rally.<\/p>\n The Nasdaq 100 is ~6% away from a bear market. https:\/\/t.co\/CYnc4kc5yK<\/p>\n \u2014 The Kobeissi Letter (@KobeissiLetter) November 5, 2026<\/a><\/p>\n\n The post Bitcoin Price Suddenly Plunges to $76K as Hourly Liquidations Near $600M<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin\u2019s sudden price surge on Wednesday has reversed into a similarly painful decline to under $77,000 just minutes after Wall Street\u2019s trading hours commenced. The altcoins have followed suit as they typically do, and the total value of wrecked positions has skyrocketed to almost $500 million in a single hour. BTC, Crypto Tank What a […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-248090","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/248090"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=248090"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/248090\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=248090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=248090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=248090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Wall Street Tumbles, Too<\/h2>\n
![<\/a>BTCUSD November 5. Source: TradingView<\/p>\nThe calamity has taken the altcoins south as well. ETH is currently down by 7% on a 24-hour scale, plummeting below $2,300 after it neared $2,500 yesterday. XRP is down by over 5% to $1.25, HYPE has nosedived by 10%, DOGE by 6.5%, and SOL by 6%.<\/p>\nAs expected, such massive market turbulence has harmed over-leveraged traders (again). Data from CoinGlass showed that the liquidations in the past hour alone totaled over $560 million, with $530 million coming from longs. More than 165,000 traders have been wrecked within the past day, while the single-largest liquidated order took place on Hyperliquid and was worth $6.62 million.<\/p>\n<\/a>Liquidation Data on CoinGlass<\/p>\nWall Street Tumbles, Too<\/h2>\nThe crypto crash is not an isolated case, as Wall Street leads the pack. The Kobeissi Letter just reported that the S&P 500 alone has erased $2.2 trillion over the past hour. Just for reference, the cryptocurrency market\u2019s entire capitalization is at $2.6 trillion.<\/p>\nMoreover, the analysts added that today\u2019s calamity is now \u201cdouble the size of yesterday\u2019s post-election rally.\u201d Separately, they warned that the Nasdaq 100 is just 6% away from officially entering a bear market. The index has plunged by over 4.4% since opening an hour ago, going from over 28,000 to 27,180. It\u2019s down by 13% since its peak a month ago.<\/p>\nBREAKING: The S&P 500 has now erased -$2.2 trillion over the last 55 minutes.<\/p>\nToday\u2019s decline is now double the size of yesterday\u2019s post-election rally.<\/p>\nThe Nasdaq 100 is ~6% away from a bear market. https:\/\/t.co\/CYnc4kc5yK<\/p>\n\u2014 The Kobeissi Letter (@KobeissiLetter) November 5, 2026<\/a><\/p>\n\nThe post Bitcoin Price Suddenly Plunges to $76K as Hourly Liquidations Near $600M<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin\u2019s sudden price surge on Wednesday has reversed into a similarly painful decline to under $77,000 just minutes after Wall Street\u2019s trading hours commenced. The altcoins have followed suit as they typically do, and the total value of wrecked positions has skyrocketed to almost $500 million in a single hour. BTC, Crypto Tank What a […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-248090","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/248090"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=248090"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/248090\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=248090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=248090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=248090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/11\/BTCUSD-November-5-1.png\"){kind=link}
![<\/a>Liquidation Data on CoinGlass<\/p>\nWall Street Tumbles, Too<\/h2>\nThe crypto crash is not an isolated case, as Wall Street leads the pack. The Kobeissi Letter just reported that the S&P 500 alone has erased $2.2 trillion over the past hour. Just for reference, the cryptocurrency market\u2019s entire capitalization is at $2.6 trillion.<\/p>\nMoreover, the analysts added that today\u2019s calamity is now \u201cdouble the size of yesterday\u2019s post-election rally.\u201d Separately, they warned that the Nasdaq 100 is just 6% away from officially entering a bear market. The index has plunged by over 4.4% since opening an hour ago, going from over 28,000 to 27,180. It\u2019s down by 13% since its peak a month ago.<\/p>\nBREAKING: The S&P 500 has now erased -$2.2 trillion over the last 55 minutes.<\/p>\nToday\u2019s decline is now double the size of yesterday\u2019s post-election rally.<\/p>\nThe Nasdaq 100 is ~6% away from a bear market. https:\/\/t.co\/CYnc4kc5yK<\/p>\n\u2014 The Kobeissi Letter (@KobeissiLetter) November 5, 2026<\/a><\/p>\n\nThe post Bitcoin Price Suddenly Plunges to $76K as Hourly Liquidations Near $600M<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin\u2019s sudden price surge on Wednesday has reversed into a similarly painful decline to under $77,000 just minutes after Wall Street\u2019s trading hours commenced. The altcoins have followed suit as they typically do, and the total value of wrecked positions has skyrocketed to almost $500 million in a single hour. BTC, Crypto Tank What a […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-248090","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/248090"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=248090"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/248090\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=248090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=248090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=248090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/11\/Screenshot-2026-11-05-173256.png\"){kind=link}