Crypto Shares Slammed, BTC Heads Back to $100K Thursday Alongside Stock Market Selloff

On November 6, 2025, both traditional and crypto markets experienced a significant downturn, contributing to a further decline that began in July. Bitcoin barely held above the $100,000 mark, seeing a 3% drop over the last 24 hours, while other cryptocurrencies such as Ether, Solana, and Doge fell by 2%-6%. Crypto-related stocks were hit harder, with Robinhood down 8.5% despite a reported earnings beat, and other exchanges like Coinbase and Gemini also reporting losses. The recent market movements may relate to the Federal Reserve's hawkish pivot regarding rate cuts and liquidity, coupled with economic concerns highlighted by unexpected high job layoffs and a troubling CEO departure at CarMax, whose shares plummeted 20%. McDonald's echoed sentiments surrounding consumer economic pressure as the government shutdown continued, exacerbating market fears. Soaring Bitcoin mining stocks, which had shifted focus towards AI infrastructure, are now facing declines as well, with notable drops in shares including Hut 8 and Cipher Mining.

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