Bitcoin fell below its pre-election trading level during the Thursday selloff described in Decrypt’s November 6, 2026 newsletter, as major cryptocurrencies declined alongside U.S. technology stocks. Crypto long liquidations reached roughly $1.1 billion, while Bitcoin and Ethereum exchange-traded funds recorded net outflows.
The report, written by Tyler Warner, was published on November 6, 2026, at 21:29:20 UTC+8. Its market figures reflect that historical reporting period, not current prices.
Bitcoin reverses Wednesday’s gains
Bitcoin had climbed above $80,800 on Wednesday before falling 5.4% to $75,871 on Thursday, according to the newsletter. Ethereum declined 7.6% to $2,239, XRP lost 9.8%, and Hyperliquid fell 4.9%. The CMC20 index dropped 6.29%.
The report described roughly $1.1 billion in liquidated crypto long positions before a modest overnight rebound. In its ETF roundup, it reported Thursday net outflows of $430 million from Bitcoin funds and $100 million from Ethereum funds.
Zcash and Monero declined less than the broader crypto market, falling 0.8% and 2.2%, respectively, while remaining higher for the week. Over the preceding year, the newsletter reported gains of 146% for Zcash and 74% for Monero, compared with declines of 26% for Bitcoin and 34% for Ethereum.
Semiconductor shares lead the equity decline
The S&P 500 fell 4.36%, its worst session since the April 2025 Liberation Day tariffs. The Nasdaq dropped 5.52%, closing more than 10% below the record it had reached the previous month, while the Dow lost 1,833 points.
Semiconductor stocks suffered particularly steep losses:
- The iShares Semiconductor ETF fell more than 12%, its worst day since March 2020.
- Micron declined 17.5%, AMD 17.3%, Marvell 16.4%, and Nvidia 9.3%.
- The Magnificent Seven lost roughly $1 trillion in combined market value.
The newsletter put the overall loss in U.S. equity market value at $3 trillion. The VIX reached 28.09 intraday, its highest level since March.
Political concerns and the next economic release
Warner’s analysis linked the reversal to concerns about scrutiny of AI infrastructure following Democratic election wins. The report noted local opposition to data center construction in several states where Democrats won and described investor concerns about slower permitting and tighter oversight.
“We suspect there is going to be some scrutiny on this aggressive AI buildout,” Swissquote’s Ipek Ozkardeskaya said in the report.
That explanation was the newsletter’s interpretation of the selloff, rather than an established single cause. The report also said the implied probability of a December rate hike fell to 70.1% from 82.7%.
At publication, Friday’s October jobs report was the next scheduled economic release highlighted by the newsletter.
Source: Decrypt — Morning Minute: Bitcoin Erases Election Rally as AI Stocks Crater. The original identifies the analysis and opinions as Tyler Warner’s own, not necessarily those of Decrypt.