TLDR
- Bitcoin fell to $74,762 on Friday, its lowest level since Aug. 21, before recovering to about $76,000.
- The US economy added 165,000 jobs in October, well above the 65,000 forecast, which lifted December Fed rate hike odds.
- BTC is on track for a 2% weekly loss, its fifth in a row.
- Analysts point to $75,500 as key support, with $69,000 in view if it fails.
- Bitcoin spot ETFs recorded $412 million in net outflows on Nov. 6.
Bitcoin (BTC) traded near $76,000 on Friday after a choppy session. The price dipped to $74,762 early in the US session, its lowest level since Aug. 21. The drop came after the US stock open, when BTC moved differently from equities.
BTC later turned 0.4% higher to $76,031.60 by 17:30 ET as Wall Street’s tech shares rebounded. Even so, the coin is on track for a 2% weekly loss.
The October jobs report drew the most attention. The US economy added 165,000 jobs, well above the 65,000 analysts expected.
BREAKING: US job openings jumped +333,000 in September, to 7.52 million, the 3rd-highest reading since November 2024.
This marks the largest monthly increase since April and the 3rd-largestsince October 2024.
The surge was led by professional and business services, which added… pic.twitter.com/nMVU6mywlC
— The Kobeissi Letter (@KobeissiLetter) November 6, 2026
The Bureau of Labor Statistics also revised earlier data higher. August and September gained a combined 84,000 jobs, and September’s figure rose from 29,000 to 60,000.
Jobs data lifts rate hike bets
The unemployment rate fell to 4.1% from 4.2%. Forecasts had pointed to 4.2%, and job gains came from professional services, health care and transportation.
The Federal Reserve raised rates by 25 basis points in September. Policymakers said sticky inflation could lead to more hikes, and the next decision is due Dec. 9.
CME FedWatch data showed higher odds of a quarter-point hike at that meeting. Cointelegraph cited a rise from 66.9% to 76.8%, while Investing.com reported nearly 79%, up from almost 73%.
Stocks moved differently from crypto. The Nasdaq Composite gained as much as 1.8% in the first hour after Thursday’s sell-off, and SanDisk and Micron each rose 6.3%.
Bitcoin tested its 50-week simple moving average at $77,533, a line that has acted as support since mid-September. The total crypto market cap was down 0.5% on the day.
Keith Alan, cofounder of Material Indicators, wrote on X that the support cannot be confirmed before the weekly close. He saw a drop to $69,000 if the $75,500 area fails, with a recovery needing higher highs and higher lows on lower time frames.
Analyst Ash Crypto said Bitcoin is trading between its weekly 50 and 100 moving averages, much like in 2023. He listed support at $75,500 and $67,800, with resistance at $82,000 and $87,400.
Bitcoin is showing a familiar setup on the weekly chart.
We saw something similar in 2023, when BTC consolidated between the weekly MA 50 and MA 100 before breaking out and starting its next major rally.
Now in 2026, Bitcoin is once again trading between these two moving… pic.twitter.com/aYHtVudJVN
— Ash Crypto (@AshCrypto) November 6, 2026
Ash Crypto added that the weekly RSI is near 50, while the Stochastic RSI looks weak. He said RSI could slide toward 44 before another move higher.
Regulatory doubts and miner selling
Bitcoin is heading for a fifth straight weekly loss. Early optimism around the US midterm elections has faded as traders weigh a Democrat-led Congress.
Democrats have historically been more skeptical of crypto, and Senator Elizabeth Warren has called for a broader crackdown. Democrat opposition also helped sink the Clarity Act in Congress earlier this year.
The last Democrat-led Congress, in 2021 and 2022, coincided with a 43% drop in Bitcoin. Rate hikes and the Terra, FTX and Celsius bankruptcies also marked that period.
Riot Platforms said this week it sold most of its Bitcoin holdings in the third quarter. Its shares closed up 13.21% at $16.71.
Bitcoin Spot ETFs See $412M in Net Outflows, Ethereum Spot ETFs Lose $93.19M on November 6 (ET)
According to SoSoValue data, Bitcoin spot ETFs recorded total net outflows of $412 million on November 6 (ET). Fidelity's FBTC led Bitcoin spot ETFs in daily net inflows with $42.82… pic.twitter.com/kJbFrw0CdU
— Wu Blockchain (@WuBlockchain) November 7, 2026
Wu Blockchain, citing SoSoValue data, reported Bitcoin spot ETFs saw $412 million in net outflows on Nov. 6. Fidelity’s FBTC led daily inflows with $42.82 million, while Ethereum spot ETFs lost $93.19 million.
