Bitcoin fell to around $76,100 on Friday, November 6, after declining approximately 5.2% over the previous 24 hours. About $1.27 billion in derivatives positions were liquidated, including more than $1.1 billion in long positions, while US spot Bitcoin ETFs recorded $430.2 million in net outflows on Thursday. Bitcoin has now moved below its 50-week exponential moving average at roughly $78,400 and is testing an important weekly support level at $75,000. Investors are awaiting the October US jobs report, which could shape monetary policy expectations, but a lasting recovery will require stronger spot demand, improving institutional flows and a move back above $80,000.
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