Bitcoin drops below $80,000 as US jobless claims drop to 189,000
CIE News ·
Based on reporting by crypto.news; not yet independently confirmed.
Bitcoin retreated below $80,000 after US initial jobless claims fell to 189,000 for the week ending October 31, matching a multi-decade low and complicating rate-cut outlooks.
Bitcoin (BTC) dropped below the $80,000 mark after reaching an intraday high above $80,500 on November 5, 2026, following stronger-than-expected United States employment figures, crypto.news reported. The U.S. Department of Labor reported that seasonally adjusted initial jobless claims fell by 6,000 to 189,000 for the week ending October 31, falling below market forecasts of 196,000 and matching the lowest recorded level since 1969. The prior week's count was revised to 195,000.
While initial filings declined, continuing claims rose by 23,000 to 1.718 million for the week ending October 24, crypto.news noted. Following the release, Bitcoin traded between $79,356 and $79,595, while Ethereum (ETH) changed hands at $2,387.35 amid $600 million in 24-hour liquidations across the market.
Market data also showed uneven institutional activity, with U.S. spot Bitcoin exchange-traded funds registering $74.6 million in net inflows on November 4, crypto.news reported. Fidelity's FBTC logged $236.7 million in net deposits, while BlackRock's IBIT recorded $201.2 million in outflows.
Key facts
- 189,000 initial claims filed
- BTC traded below $80,000
- $600M in 24-hour liquidations
- ETH traded at $2,387.35
Read the original at crypto.news