The cryptocurrency market entered a fresh bout of volatility in early November 2026 as the US midterm elections and a broad sell-off in global financial markets reshaped price action across major digital assets. Bitcoin traded between $75,000 and $81,000, while leading altcoins including Ethereum, XRP, Cardano, BNB, and Hyperliquid faced renewed selling pressure.
Bitcoin (BTC) started the business week near $78,000, but the November 4 midterm elections brought turbulence. As it became clear that Democrats would likely regain control of the Senate and House, BTC initially dropped toward $76,000, then rallied as high as $81,000 when the outcome reduced political uncertainty. The advance was short-lived: a broad sell-off across global financial markets over the next 24 hours pulled BTC back to around $76,000. Some traders remained optimistic, with X user Ted suggesting a move toward $87,000 if BTC reclaims $82,000, and Michael van de Poppe saying buyers would stay in control above $79,000. However, cautionary signals emerged, including transfers of thousands of coins from Trump Media Group to Crypto.com and from MARA Holdings to Galaxy Digital and Copper. The Kobeissi Letter also reported that the US administration and military were finishing preparations for “a possible resumption of major combat operations in Iran.”
Ethereum (ETH) quickly rallied by 10% after the elections, only to erase those gains a day later and reconfirm $2,400 as resistance. Its weekly price was flat, but sellers remained in control with five consecutive red weekly candles and lower lows. Analysts see support near $2,000, and if that fails, $1,800 is the next downside target.
Cardano (ADA) fell by 5% this week and was on track to close its fifth straight red weekly candle. The correction has erased more than half of the gains made during the August-September rally. Buyers may appear around $0.18 and $0.16, but a break of those levels could force a retest of $0.15.
Ripple (XRP) had a difficult week, closing 6% lower and trading around $1.20 after a 9% daily drop on November 6. It briefly rose above $1.30 on November 5 before following Bitcoin lower. Analysts attributed part of its underperformance to weak institutional demand: spot XRP ETFs from Bitwise, Franklin Templeton, Canary Capital, 21Shares, and Grayscale have struggled to attract fresh capital, with daily net inflows at $0 for two consecutive days. Since their debut, those products have accumulated $1.81 billion in net inflows. Key support levels are seen at $1.10 and $1.00.
Binance Coin (BNB) dropped to the key support at $690 and closed the week 4% lower. Market participants noted that Binance experienced the largest crypto hack in history and recently reopened withdrawals, with roughly $5 billion leaving the exchange. If sellers push BNB below $690, the next support is expected near $580.
Hyperliquid (HYPE) was the worst performer among the highlighted altcoins, tumbling 17% weekly to around $78 after a recent rally toward its all-time high of $97 was completely erased. Analysts highlighted a possible head-and-shoulders top and a large bearish wedge, with further downside targets at $59 to $60 if key support between $76 and $78 fails. Santiment noted that HYPE pumped above $95 following Stan Druckenmiller's endorsement, but within a day four whales closed their HYPE longs entirely, banking around $5 million.
Overall, the market tone remains cautious, with altcoins broadly under pressure and Bitcoin struggling to hold its post-election gains amid macro uncertainty.
