Crypto this week: Bitcoin slides as midterm rally fades (6 Nov 2026)
Bitcoin heads for a fifth weekly loss near $75,500, ETF outflows pass $850 million, US midterms shake up crypto policy, and what it means for Indian users.
- Checked against the rules: Nov 2026
- Sources cited · No buy or sell calls
The market in one paragraph
Bitcoin started the week under pressure after Binance's record hack, dipped to a seven-week low as US midterm results came in, then briefly bounced above $80,000 on Wednesday. The rally faded on Thursday as tech stocks sold off and rate-hike worries returned. By Friday, Bitcoin was trading near $75,500, on course for a fifth straight weekly loss, and Ether had fallen to around $2,230. A widely watched sentiment gauge slipped back to "fear".
What drove it
- US midterms. Democrats won control of both the House and Senate. Markets first took it calmly, but worries about tighter crypto and AI rules weighed on prices later in the week. What the midterms mean for crypto.
- Interest rates. The US Federal Reserve held rates in late October. Strong jobs data revived talk of a rate hike before year-end, which usually weighs on crypto. What moves crypto prices.
- ETF flows. US spot Bitcoin ETFs saw outflows on three of the first four trading days of November, with only one day of inflows. Bitcoin ETF flows explained.
- Liquidations. Around $1.09 billion of mostly long leveraged positions were liquidated in a single 24-hour period, adding to the fall.
India this week
- Binance reopened withdrawals in phases after its $6.3 billion hack and says users won't bear the loss. Full update.
- The Enforcement Directorate searched premises linked to crypto firms in Bengaluru and Madhya Pradesh over alleged cross-border transfers using stablecoins. What we know.
- India's cybersecurity agency CERT-In has been warning about AI-assisted attacks on financial platforms, including crypto exchanges. Turn on authenticator 2FA and watch for convincing phishing. Security hub.
What to watch next week
US inflation and jobs data, ETF flows, and whether Bitcoin holds the mid-$70,000s. Indefi doesn't predict prices. If you're investing, size your position so a further fall wouldn't hurt.
Check live prices in rupees on our prices page.
Sources
- Kucoin: Crypto Daily Market Report, 6 November 2026
- FXStreet: Cryptocurrencies wrap, 6 November 2026
- Coinpaper: Bitcoin ETFs lose $430 million (Farside data)
- Investing News Network: Crypto market update, 4 November 2026
- Nexo: Markets Today, 5 November 2026
- CoinGabbar: Crypto news, 6 November 2026
- Cointelegraph via CoinSpectator: India warns of AI-powered hackers targeting exchanges
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