Bitcoin Slides Below $76,000 as Crypto Liquidations Top $1B

Bitcoin’s decline follows substantial ETF withdrawals and heightened uncertainty after the Binance security breach. Forced long liquidations dominate the derivatives market, while reported open interest remains elevated. Bitcoin has lost a key Fibonacci retracement, with weakening RSI and MACD readings reinforcing the bearish technical outlook. Bitcoin fell below $76,000 on November 5 as another wave of forced liquidations swept through cryptocurrency markets, extending a selloff that has intensified following institutional fund withdrawals and exchange-security concerns. The latest decline pushed Bitcoin through a closely watched Fibonacci retracement on the daily chart, while derivatives data revealed concentrated losses among leveraged bullish traders.