Bitcoin Tests $75K Support Amid Nasdaq and Asian Selloff

Bitcoin holds near $75,000 as global equities crash

Bitcoin price slipped roughly 6% during a wave of technology-stock selling, falling to about $75,600 before finding support just above the $75,000 mark. The move came as Asian equity markets plunged on November 6, with some estimates indicating more than $1 trillion of market value wiped out across the region. Crypto traders and institutional investors watched closely as bitcoin reacted to broader risk-off flows tied to declines in AI-linked tech names.

Major Asian markets trigger circuit breakers

South Korea's KOSPI tumbled nearly 9% during intraday trading on November 6, activating an automatic 20-minute trading halt for the seventh time this year. Taiwan's TAIEX also dropped about 9%, with heavy selling pressure on chipmaker TSMC. In Japan, the Nikkei 225 moved more than 20% below its peak, formally entering bear market territory. Analysts estimated market-cap losses of about $203 billion for KOSPI, $450 billion for the Nikkei and $210 billion for Shanghai — a combined figure near $863 billion, though some calculations put regional losses at over $1 trillion.

Tech rout intensifies after Nasdaq tumble

The Asian selloff accelerated following a 6.4% decline in the Nasdaq 100 on November 5, a drop that wiped roughly $2.5 trillion from the value of companies in that index, according to estimates. Concerns over future investment in artificial intelligence and data center capacity were cited as major drivers of the tech selloff. Bitcoin proved somewhat resilient relative to major tech indices: BTC briefly dipped to about $75,200, but the magnitude of its decline was smaller than that of large-cap technology stocks.

Derivatives-driven pressure and options expiry

Crypto derivatives markets also felt the shock. Liquidations in digital-asset positions surpassed $1.25 billion over 24 hours, with nearly 90% of those liquidations hitting long positions. The concentration of forced selling in leverage-heavy crypto trades amplified near-term volatility in bitcoin price action.

Weekly options expiry focuses traders on $75K

Deribit’s weekly options expiry at 08:00 UTC attracted particular attention, centering traders on the $75,000 support level. Market observers noted that holding $75k through the options settlement and into the U.S. trading session could be an early sign that bitcoin is beginning to decouple from the behavior of AI-related equities. Fundstrat analyst Tom Lee compared the recent selloff to previous market shocks, while macro commentator Alex Krüger highlighted that this marked only the second time the Nasdaq had plunged more than 5% with bitcoin’s decline remaining comparatively modest.

What traders and investors should watch

For crypto investors, the key indicators to monitor are bitcoin spot price action around the $75,000 support, derivatives open interest and liquidation flows, and how BTC behaves as U.S. markets open following the options expiry. A sustained hold above $75k could reduce narrative-driven correlation with AI and large-cap tech stocks, but analysts caution that more evidence is needed before concluding a structural decoupling. Risk management remains essential as market liquidity and macro sentiment continue to drive volatility across blockchain and cryptocurrency markets.