David Gokhshtein, founder of Gokhshtein Media and host of The Breakdown, reported on notable volatility within the Bitcoin market on Thursday, November 5, 2026. In a post on X, Gokhshtein shared a precise observation regarding Bitcoin's price trajectory and its immediate consequences for traders. He stated, "Bitcoin was back over $80K this morning. Now it's around $76K and about $370 million in longs got liquidated in an hour." This comment drew attention to the swift reversal in Bitcoin's value and the substantial financial impact on leveraged positions.
The statement came as Bitcoin experienced a sharp decline, trading at $76,669, down 4.7% over the past 24 hours from its earlier highs. The reported $370 million in liquidations occurred rapidly after Bitcoin had briefly surpassed the $80,000 mark earlier in the day. Recent Gokhshtein Media coverage has noted Bitcoin holding $79.6K as use flatlined across derivatives, indicating a period of cautious trading before the recent price movement. Separately, 646 BTC exited Coinbase Institutional as a whale repositioned $51.9 million.
Gokhshtein's post implies a swift market correction or intense selling pressure that caught many leveraged traders off guard. The large liquidation volume suggests a significant unwinding of bullish bets as prices fell from their morning peak. This movement indicates that traders should monitor for further price stabilization or potential continued downward momentum if selling pressure persists in the near term.
