Ethereum crypto drops as $1 billion in positions are liquidated
Bitcoin and Ethereum prices drop as over $1 billion in leveraged positions are liquidated
In this article
Crypto market overview
Ethereum crypto, along with Bitcoin, saw a drop in prices after over $1 billion in leveraged positions were liquidated 2. Bitcoin briefly fell below $75,000, while Ethereum hit a 10-week low 2. This downturn was largely driven by a tech and AI sell-off on Wall Street, regulatory uncertainty, and outflows from spot Bitcoin ETFs 3. The Crypto Fear and Greed Index fell to 28, indicating fear territory 3.
CoinGecko market data (delayed) shows Bitcoin traded at $75,738.00, with a 24-hour change of -0.2%, while Ether traded at $2,236.08, with a 24-hour change of -0.2% 4. These prices are delayed, and the market is subject to change. Sentora reported a bigger drop of $6.02 billion in stablecoin supply 1.
DefiLlama puts the total stablecoin supply at $293.25 billion, down from $298.24 billion the previous week 1. This decrease can signal that money is returning to banks, which can have a negative impact on the crypto market 1. Circle’s data on Ethereum points to a net drop of $3.1 billion in USD Coin (USDC) over the past month 1.
Over $1 billion in leveraged positions liquidated
Stablecoin supply decrease
Stablecoin supply fell by about $5 billion at the end of the week, with supply declining every day 1. Tether (USDT) dropped from $177.50 billion to $176.78 billion in a single day 1. Sky Dollar (USDS) fell from $6.48 billion to $5.59 billion the same day, suggesting DeFi users pulled money from savings 1. Ethena USDe (USDE) grew from $4.56 billion to $4.92 billion, indicating some traders still seek yield 1.
The decrease in stablecoin supply was uneven, with some stablecoins experiencing a larger drop than others 1. Routine activity by large players, such as market makers redeeming unused cash or funds moving money into Treasury bills, also contributes to supply fluctuations 1. Market sentiment is still indicated by these supply shifts, affecting cryptocurrency prices 1.
Whale Alert reported 250 million USDC ($250 million) minted on Solana on November 6, indicating Ethereum could lose share even when total supply rises 1. DeFi borrowers are also reducing their leverage, with high-risk loans down $123 million to $5.95 billion 1. Sentora shows DeFi total value locked down $861 million 1.
Ethereum performance
Ethereum has been affected by the downturn in the crypto market, with its price hitting a 10-week low 2. Despite this, Ethereum has barely moved, with its price dropping by only 1% in the past week 1. Ethereum holds $43.51 billion of the $81.23 billion in value locked in DeFi, a substantial 53.6% share 1.
Circle minted $24.3 billion of USD Coin (USDC) on Ethereum but burned about $27.4 billion, a net drop of $3.1 billion 1. Ethereum's large DeFi sector share also means it has potential for growth and rebound 1. The performance of Ethereum is closely tied to the DeFi sector's performance 1.
The next technical levels for Bitcoin are $73,000 and $68,000, while for Ethereum, the support level is $2,200 2. Traders are watching whether $2,200 will hold as support for Ethereum 2. The market is also waiting to see if the prices will rebound or continue to decline 2.
What it means for readers
US crypto investors and builders face challenges due to reduced buying power in the DeFi sector 1. Investors may view this as an opportunity to buy into the market at a lower price 1. The liquidations in the crypto market can also have a significant impact on US crypto investors and builders 2.
Fear territory was indicated by a fall to 28 on this index, which can be a decent medium-term entry point 3. Sentiment plays a significant role in determining cryptocurrency price direction 1. Investors make informed decisions by understanding sentiment 1.
The outflows from spot Bitcoin ETFs and the regulatory uncertainty are significant factors affecting the crypto market 23. The performance of Ethereum and other cryptocurrencies is also a significant factor in determining the direction of the market 12.
What isn't known yet
Liquidations' impact remains unknown 2. Prices may rebound or continue to decline, and investors wait to see what happens 2. Early next week, direction of ETF flows and whether Bitcoin reclaims $80,000 or loses $73,000 will be key 2.
The regulatory direction after the midterm elections is also unknown, with the market pricing in the prospect of a tougher approach 2. The US Treasury's action against the exchange MEXC is also a significant unknown 2. The impact of this action on the crypto market is still unknown 2.
Significant uncertainty surrounds it, with many unknowns that can have an impact 123. These indicators - including an index and liquidations - significantly reveal sentiment 12.
Frequently asked questions
What is the current price of Bitcoin?
According to CoinGecko market data (delayed), Bitcoin traded at $75,738.00, with a 24-hour change of -0.2% 4.
What is the impact of the liquidations on the crypto market?
The liquidations can result in significant losses, and investors should be cautious when taking on leveraged positions 2.
What is the regulatory uncertainty in the crypto market?
The regulatory uncertainty is a significant unknown, with the market pricing in the prospect of a tougher approach after the midterm elections 2.
About this article
Our system reads Bitcoin, Ethereum, crypto markets, regulation and DeFi coverage from established publishers every hour. A story is only written when at least three independent outlets report it. Every figure must appear in a cited source, and each draft passes automated checks for accuracy, originality and readability. Drafts that score highly on every check publish automatically; the rest wait for a human editor. Drafted with AI assistance from the sources listed. Not financial or professional advice.
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- 24/7 Wall St.: Stablecoins Shrank by $5 Billion in a Week. Can Ethereum Rally While Money Leaves Crypto? · Nov 7, 2026 ET
- JournalArta: Bitcoin, Ethereum, XRP and Solana Fall as Crypto Liquidations Top $1 Billion · Nov 7, 2026 ET
- CryptoTicker.io: Crypto Crash: Why Bitcoin, ETH, XRP and SOL Fell · Nov 7, 2026 ET
- CoinGecko market data (delayed): Bitcoin and Ether prices at Nov 07, 2026 19:00 ET · Nov 7, 2026 ET
