Bitcoin Holds 50-Week Moving Average After 5.7% Drop to $76K

Cointime reports: Bitcoin closed Thursday above its 50-week moving average despite falling about 5.7% from above $80,000 to roughly $76,000 on Nov. 5, a seven-week low that erased all post-midterm gains, Galaxy research head Alex Thorn said. About $1.1 billion in leveraged positions were liquidated in 24 hours, nearly 90% of them longs, across roughly 211,000 traders. Spot bitcoin ETFs saw about $1 billion in net outflows, including $900 million from IBIT.