TL;DR:
The U.S. Department of Labor reported the creation of 165,000 new non-farm jobs for October 2026, keeping the unemployment rate at 4.1%.
Bitcoin ‘s price pulled back to $75,854, while Ethereum dropped to around $2.230.
Spot Bitcoin and Ethereum exchange-traded funds (ETFs) recorded combined net outflows exceeding $530 million in the previous session.
Following the U.S. non-farm payrolls report this Friday, November 6, the price of Bitcoin and Ethereum fell. The report in question reflected the addition of 165,000 jobs during the month of October.
The government report detailed that average hourly earnings increased by 0.4% month-over-month, standing at $38, with an annualized wage growth of 3.1%. Meanwhile, the unemployment rate remained unchanged at 4.1%.
After these macroeconomic figures were released, Bitcoin ‘s price retreated 1.1%, touching an intraday low of $74.888 before stabilizing above $75.854. This variation reduced the digital asset’s total market capitalization to $1.524 trillion.
Ethereum followed a similar trajectory, settling near $2.230 per unit. The initial response in the spot market was accompanied by a considerable volume of liquidations in the derivatives sector.
According to CoinGlass monitoring, the global cryptocurrency market recorded $468 million in leveraged position liquidations over a 24-hour period. Long positions accounted for the majority of the forced closures. The Binance exchange platform accounted for 41.7% of these total liquidations.
Institutional ETF Outflows and Key Technical Levels
In the institutional sphere, institutional investment instruments reflected a defensive posture during recent days.
U.S.-listed spot Bitcoin and Ethereum exchange-traded funds (ETFs) registered combined net outflows of approximately $530.17 million during the November 5 session.
Bitcoin investment vehicles accounted for the bulk of those divestments, with negative flows nearing $430 million. The fund operated by Fidelity led the divestments in the Bitcoin category by reporting net withdrawals close to $200 million. In contrast, Ethereum funds registered outflows of nearly $100 million on the same day, still accumulating historical net inflows of $12.020 billion and total net assets of $13.040 billion.
The bearish behavior of digital assets also coincided with risk-aversion movements in U.S. stock markets, particularly in semiconductor and technology companies.
According to Trade Confident analysts cited in the report, a sustained break below the intraday support of $74.888 could place Bitcoin ‘s 200-day moving average, located at $73.239, as the next technical monitoring level. Likewise, the analysis firm highlighted that the immediate upper resistance is located near $76.950, with a subsequent psychological barrier at $80.000.
On the other hand, data derived from futures markets indicated that the implied probability of the Federal Reserve maintaining a restrictive monetary policy or applying additional interest rate adjustments by December showed immediate increases following the employment data. Strengthening non-farm payrolls is usually associated with a context of lower liquidity for risk assets.
The next focus of attention for operators and financial institutions will be fixed on the publication of the U.S. Consumer Price Index (CPI) , scheduled for the second week of November, a figure that will determine the Federal Reserve’s margin of maneuver in its last monetary policy meeting of the year.
