Bitcoin fell to $74,762 after the US stock market opened on Friday, Nov. 6, 2026, reaching its lowest level since Aug. 21 even as technology shares recovered from the previous session’s sell-off, according to Cointelegraph.
The report was published on Nov. 7, 2026, at 01:49:33 UTC+8. TradingView data cited in the article showed BTC/USD slipping below $75,000, while total cryptocurrency market capitalization was down 0.5% on the day.
Stocks recover as Bitcoin weakens
The Nasdaq Composite gained 1.8% during the first hour of trading. At the report’s time of writing, the index was up 1.2% and the S&P 500 was ahead 0.6%. SanDisk and Micron Technologies each rose 6.3%.
The divergence followed stronger-than-expected US employment figures. According to the Bureau of Labor Statistics data cited in the report, the economy added 165,000 jobs in October, compared with market expectations of 65,000. September’s figure was revised from 29,000 to 60,000.
The BLS reported employment gains in professional and business services, health care, and transportation and warehousing. The unemployment rate was 4.1%, below the predicted 4.2%.
Cointelegraph noted that a stronger labor market can weigh on crypto and other risk assets if it reinforces expectations that the economy can withstand tighter monetary policy, potentially limiting liquidity inflows. That is a possible market mechanism, rather than proof of what caused Bitcoin’s decline.
Following the data, the probability assigned to a 25-basis-point Federal Reserve rate increase at its December meeting rose from 66.9% to 76.8%, according to CME Group’s FedWatch Tool as cited by Cointelegraph.
Analyst outlines conditional downside risk
The report identified Bitcoin’s 50-week simple moving average at $77,533 as a key support reference. Keith Alan, cofounder of crypto trading platform Material Indicators, said the trend line had served as support since mid-September, but cautioned that its durability could not be confirmed before the weekly candle closed.
Alan warned that BTC/USD could fall as low as $69,000 if the area around $75,500 failed to hold. This was a conditional downside scenario, not a confirmed outcome. A recovery, he said, would require a sequence of higher highs and higher lows on lower time frames.
Source: Original Cointelegraph article.