Bitcoin (BTC) Price: Falls Below $77,000 as Chip Selloff Hits Stocks Before U.S. Midterms

TLDR

Bitcoin fell 2% to just under $77,000 on Tuesday, wiping out Monday’s bounce. A chip selloff pushed the Nasdaq 100 into a correction, down 10% from its peak. U.S. spot Bitcoin ETFs recorded $399 million in net outflows on Nov. 2. Binance has covered $6 billion of the $6.3 billion stolen in last week’s hack. Bitcoin has closed four straight red weeks, and the U.S. midterm vote is Tuesday.

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Bitcoin (BTC) fell 2% to just under $77,000 on Tuesday during Asian morning hours. The drop wiped out Monday’s bounce.

Bitcoin (BTC) Price

The price now sits below the $77,600 level it touched late Sunday. Buyers stepped in briefly after that dip before sellers returned.

Analyst Ted Pillows pointed to the weekly chart. He said BTC has closed four straight weeks in red, and since 2011 it has never closed five in a row during a bull run. If a bull run is underway, he said, this week must close green.

$BTC has closed 4 consecutive weeks in red.

Since 2011, Bitcoin has never closed 5 consecutive weekly candles in red during a bull run.

If BTC has really entered a bull run, this week must close in green. pic.twitter.com/y73pPdZU7B

— Ted (@TedPillows) November 2, 2026

Other major coins also fell on Tuesday. ZEC dropped nearly 10% to about $1,140, a sharp turn for a token that led the majors on Monday. HYPE fell 5% to about $84, and SOL lost 3% to about $92.

BNB slipped below $700 after a 2% drop. Ether and DOGE each fell about 2%, with ether just above $2,250. XRP held at $1.25, and TRX was the only major in the green, up about 2%.

Chip Selloff Hits Stocks

The pain started on Wall Street. A gauge of U.S. chipmakers extended a three-day rout to 12%, and the Nasdaq 100 is down 10% from its peak, which traders call a correction.

The S&P 500 slipped 0.5%. South Korea’s Kospi fell more than 3%, and the MSCI Asia Pacific Index dropped almost 1%.

Oil fell sharply on Monday as hopes grew for a diplomatic end to the U.S.-Iran war. WTI crude dropped over 7% and touched $95.15, its lowest since Oct. 15. Brent fell 9% to about $103.30.

Secretary of State Marco Rubio said President Donald Trump would prefer to end the conflict diplomatically. Bitcoin still failed to rally on the news.

Gold rose 2% to above $3,950 per ounce after hitting 13-month lows of $3,891 on Friday. Apple and Palantir earnings were also due.

Binance Hack and ETF Outflows

Sentiment remains weighed down by the biggest crypto exchange hack on record. Binance said $6.3 billion was stolen in a breach blamed on the North Korean group TraderTraitor.

Binance has resumed withdrawals on several major blockchains. It said it covered $6 billion of the loss with internal funds and froze $3 billion of the stolen assets.

Wu Blockchain, citing SoSoValue, reported that U.S. spot Bitcoin ETFs shed $399 million on Nov. 2. Fidelity’s FBTC led inflows at $6.68 million, and ether funds lost $140 million.

U.S. Bitcoin ETFs Shed $399 Million, Ether Funds Lose $140 Million

According to SoSoValue, U.S. spot Bitcoin ETFs recorded $399 million in net outflows on November 2, while Fidelity's FBTC led individual fund inflows with $6.68 million. Spot Ethereum ETFs saw $140 million in net… pic.twitter.com/vfZXIZ7TNa

— Wu Blockchain (@WuBlockchain) November 3, 2026

That follows $643.3 million in outflows on Friday, the largest single-day withdrawal in four months. Americans vote in the midterm elections on Tuesday, and the first results arrive as Asian markets open on Wednesday.

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