Bitcoin Slides 1.7% as Oil Falls 7% Ahead of US Midterms

• Bitcoin fell 1.7% to below $77,000 while oil prices dropped 7% before US midterm elections and key earnings reports.
• Analysts flagged $76,000–$76,600 as vital BTC support as traders eyed geopolitical uncertainty.

On November 3, 2026, Cointelegraph reported that Bitcoin declined below $77,000 for a 1.7% daily loss, following a 7% plunge in oil prices on hopes for a peaceful US-Iran resolution. Instead of rallying alongside oil’s slide, Bitcoin traded lower as markets shifted focus to the approaching US midterm elections, major corporate earnings, and ongoing geopolitical risks.

Technical analysts pointed to $76,000–$76,600 as a critical support zone for Bitcoin, noting several recent price reversals around these levels. A sustained breakdown could send BTC toward the 50-week moving average near $75,700 and possibly to the 200-day average near $73,100.

Risk assets showed mixed reactions: stocks opened higher on diplomatic optimism but pared gains amid earnings worries, while gold gained more directly from lower oil, rising above $3,950 per ounce.

As of November 3, 2026, 11:10 UTC, Bitcoin (BTC) is trading at $77,128.47, down 0.92% over the past 24 hours, according to CoinMarketCap.