Crypto Corner

Thursday, 2026-11-05 · covering the last 24h

Market signal

Bitcoin and ether erase the midterm rally as a Wall Street AI-stock rout spills into crypto. Bitcoin fell below $76,000 on Thursday, down roughly 6% on the day to around $75,700–$75,900, while ether dropped about 7–8% to roughly $2,240 – wiping out Wednesday's post-election bounce – as a sharp selloff in AI and tech megacaps hit the Nasdaq and spilled into digital assets. The Block put 24-hour crypto liquidations at roughly $1.09bn across some 211,000 traders, with CoinGlass-sourced data showing about $954m of longs liquidated against $127m of shorts; Coinpedia estimated the total crypto market cap shed more than $120bn to around $2.57tn. Crypto-exposed equities fell in sympathy, with Strategy, BitMine, Circle and Coinbase shares among those reported down double digits intraday. The Block · Coinpedia · The Motley Fool

Markets & flows — ETFs, stablecoins & on-chain

US spot bitcoin ETFs snap a three-day outflow streak, flipping to a $74.6m net inflow. US spot bitcoin ETFs took in a net $74.6m on November 4 per Farside-sourced data, ending a run of redemptions that had pulled roughly $1.16bn out over the prior three sessions (October 30, November 2 and November 3); Fidelity's FBTC led creations with about $236.7m against a $201.2m outflow from BlackRock's IBIT, while Ark's ARKB added $19.9m and Bitwise's BITB added $15.2m. Live Bitcoin News, via Farside Investors · Blockchain.News

No fresh attested stablecoin supply print, de-peg wobble or treasury-company purchase disclosure surfaced in this window.

The industry — exchanges, miners & infrastructure

Core Scientific's colocation pivot keeps compounding as bitcoin mining fades to a rounding error. Core Scientific's Q3 2026 results, filed with the SEC, show total revenue of $232.9m (up from $164.2m in Q2 and $81.1m a year earlier), with colocation revenue up nearly 60% sequentially to $215.4m as billed AI data-center capacity rose to 485 MW from 395 MW; self-mining revenue, by contrast, shrank to just $12.3m (from $21.5m in Q2 and $57.4m a year ago) on a $7.5m gross loss. Adjusted EBITDA more than tripled sequentially to $133.6m (a 57% margin, up from 25%), while a reported $1.18bn net income was driven almost entirely by a roughly $1.03bn non-cash gain on warrant and contingent-value-right fair values rather than operations. Core Scientific 8-K, SEC EDGAR

Nothing new from Marathon, Riot or CleanSpark this window, or from Coinbase, Circle and Robinhood beyond today's broad equity selloff noted above.

Policy & regulation

A quiet day on the regulatory front – no SEC, CFTC, Treasury or overseas (MiCA, FCA, Hong Kong, Singapore, Japan) action moved the needle beyond yesterday's midterm-driven setback for the CLARITY Act.

The Chatter

Peter Schiff (X): argues today's selloff exposes what he calls a "Bitcoin bubble," with speculative capital that had rotated into crypto now draining out alongside the AI trade it has grown correlated with – a long-running bitcoin skeptic's read on the crash, not a market call this Corner endorses. Yahoo Finance

Otherwise a thin window for freshly argued theses – today's chatter was dominated by quick reactions to the crash itself rather than the researched essays from Hayes, Alden, Galaxy or Glassnode that usually fill this section; expect sharper takes once the dust from the selloff settles.