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Bitcoin tests $75,000 support as US stocks fall sharply

Bitcoin tests $75,000 support as U.S. stocks fall sharply

Updated 1 min read

Published by Agyata NewsroomEditorial policyCorrections

Key points

  • Bitcoin traded just above $75,000 on Friday, Nov. 6.
  • The S&P 500 fell 4.36% while the Nasdaq lost 6.36%.
  • S&P 500 E-mini futures bounced from 7,323 points.

Why it matters. The correlation between falling U.S. equities and Bitcoin testing a key support level highlights ongoing volatility in both traditional and digital asset markets during periods of sharp equity declines.

Updated Sources: TOKENPOST, Binance, Longbridge, Wikipedia: Bitcoin

Bitcoin hovered just above $75,000 on Friday, Nov. 6, following a sharp decline in U.S. equities. The S&P 500 dropped 4.36% while the Nasdaq fell 6.36% during the previous trading session. Technical analysts noted that the 50-week simple moving average previously supported the asset during prior bull markets. S&P 500 E-mini futures bounced from 7,323 points ahead of the Friday market open.

Latest updates

Bitcoin tests $75,000 support as US stocks fall sharply

Bitcoin hovered just above the $75,000 horizontal support level on Friday, November 6, after a significant decline in US stock markets. The S&P 500 index fell 4.36% while the Nasdaq Composite lost 6.36% during the Thursday trading session. This cryptocurrency downturn followed a midweek rally, with Bitcoin turning lower during the equity selloff. The asset's proximity to the 50-week simple moving average suggests continued volatility as investors react to the broader market correction.

TOKENPOSTBinanceLongbridgeWikipedia: Bitcoin

Sources

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