Bitcoin −6% to £56,200: what to watch at the US open
In short
- At 06:40 Sofia time Bitcoin was about £56,231, down 6.0% in 24 hours; ether was down 8.1%. About $1.09bn of leveraged positions were liquidated, mostly longs (KuCoin).
- Levels named by KuCoin: support around $75,000–76,000, resistance around $78,000. The fear-and-greed index fell from 50 to 28.
- The US jobs report is due at 15:30 and Wall Street opens at 16:30, after Thursday’s 4.36% drop in the S&P 500 and 12.2% in the SOX chip index.
Bitcoin has erased its post-election gains: at 06:40 Sofia time it was about £56,231 ($75,804), down 6.0% in 24 hours, after trading above $80,000 on Wednesday. This is a preview of what is known this morning, not a forecast for the session.
What happened
HawkValue data at 06:40: Bitcoin £56,231 (−6.0% in 24 hours, −1.9% in 7 days); ether £1,657 (−8.1%, +1.1% in 7 days); XRP £0.89 (−8.1%); Solana £66.44 (−7.0%). According to KuCoin about $1.09bn of leveraged positions were liquidated in 24 hours, mostly longs, and the fear-and-greed index stands at 28 against 50 a day earlier. US spot Bitcoin ETFs had net inflows of $74.57m on 4 November, ending three days of outflows; the report gives no figure for Thursday. The cause is the stock-market rout: as Crypto Briefing writes, crypto sold off together with equities.
What we watch into the 16:30 open: (1) the jobs report at 15:30 – consensus about 59,000 jobs (Kiplinger); (2) chip stocks after Thursday’s blow: Nvidia at $181.60 (−9.3%), AMD at $404.40 (−17.3%), Broadcom at $291.53 (−10.4%), Tesla at $343.69 (−10.8%); Micron fell 17.5% and Qualcomm 9.5% on weak guidance (JKN); (3) earnings before the open – Moderna, Humana, Charter Communications and Franklin Resources (dates are estimates, per TheStreet); (4) Lumentum was scheduled to report after Thursday’s close, so its reaction will show at the open.
What it means for you
The maths: £10,000 in Bitcoin at −6.04% in 24 hours is a loss of £604, leaving £9,396. Against the levels KuCoin names, Bitcoin at $75,804 is 1.1% above the $75,000 support and 2.9% below the $78,000 resistance. That is their technical analysis and simple distance to those levels, not our forecast.
Crypto and stocks are falling together – if you hold both, your risk is less spread out than it looks. Live prices: {{/uk/crypto-prices-uk/|crypto}} and {{/uk/stock-market-uk/|stocks}}.
Bottom line
Bitcoin is trading together with stocks, and today’s known catalysts are the jobs report at 15:30 and the US open at 16:30 Sofia time. These are facts from this morning, not a forecast.
Sources: KuCoin · Crypto Briefing · JKN · TheStreet · Kiplinger · HawkValue data at 06:40.
For information only. This is not investment advice.
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