Bitcoin, stocks, and precious metals are all falling in tandem, indicating that selling pressure is widespread and not concentrated on just one type of asset.
Whether it can regain the support level that has already been lost will be the key to determining whether this round of selling will deepen further, or whether the market will begin to stabilize.
The global market is entering November with a bearish sentiment, with increasing concerns about the returns on investments based on artificial intelligence, which adds to uncertainty. Additionally, rising oil prices and renewed geopolitical tensions are also exacerbating inflation worries. At the same time, the latest policies of the Federal Reserve have not significantly alleviated this uncertainty, and their impact is not only felt in the crypto market but has also been reflected in the global markets, as well as in gold and silver prices.
The price of Bitcoin once fell to $77,328; Wall Street recorded its worst single-day decline since June, while gold dropped to a one-year low. Silver also broke through the psychologically significant barrier of $50. This raises a question: Is this just a broader market correction, or are investors facing deeper liquidity tightening and forced to sell across asset classes?
Wall Street selling off: Tech stocks under pressure
After several months of strong gains, concerns in the market regarding rising expenditures for AI, high valuations, and prospects for returns are increasing uncertainty. The Nasdaq Composite Index fell by 2.86%, recording its largest single-day decline since June 5th. The S&P 500 Index dropped by 1.82%, and the Dow Jones Industrial Average fell by 1.09%. The Nasdaq, which is dominated by tech stocks, has also significantly retreated from its monthly highs.
In addition, several large technology stocks are also under pressure. Intel has seen a significant decline, and there is selling pressure on NVIDIA, Alphabet, and Meta. The decline of Alphabet is even more pronounced, turning its performance negative. At present, this wave of selling raises a question: Is what Wall Street is witnessing merely a temporary correction in technology valuations, or is it a broader withdrawal from riskier assets?
Bitcoin joins the sell-off: Binance's security vulnerabilities exacerbate market pressure
While the weakness in tech stocks has been dampening investor sentiment, this sector now faces another major concern: a security vulnerability has been discovered at Binance, one of the world's largest cryptocurrency exchanges. This has triggered widespread panic, causing the price of BTC to fall to $76,400, the lowest level since September 18th. However, the price has since rebounded above $77,500, but the rally since the beginning of 2026 remains confined within an upward parallel channel.
The recent pullback has brought the price closer to an important support level, and as a result, the market has begun to focus on whether buyers will be able to prevent a more significant correction.
RSI has fallen back from a higher range to a neutral range, indicating that the buying momentum is no longer as strong as during the previous rebound. On the other hand, MACD also shows a decline in buying momentum, and there is a possibility of a bearish crossover, which could confirm the start of a bear market trend. $74,336 is the immediate support level that needs attention at present. Bitcoin is still above this level, but if it continues to fall on the weekly chart, it may face further losses.
Currently, the price of BTC needs to hold this support level, which will help in determining the next trend.
Gold breaks below key support, selling pressure intensifies
Gold also faced heavy selling pressure, and its status as a "safe-haven asset" during periods of market uncertainty was challenged. The latest daily chart shows that gold fell by 3.68% to $3,872.86. More importantly, the gold price has broken below the previous support range of around $3,930 to $3,950, which increases the possibility of further declines.
RSI has also entered an oversold area, reflecting the strong selling pressure recently. The next level that needs attention is $3,824; if this support level is broken, gold prices could fall further to $3,457.49. Currently, gold needs to regain the range of $3,930 to $3,950 to alleviate the current bearish pressure. The risk of further declines still exists until buyers retake this area.
Is the market heading towards a deeper correction?
Bitcoin, stocks, silver, and gold are all falling simultaneously, indicating that market sentiment has become quite fragile. Concerns about the valuation of AI are weighing on tech stocks, while the crypto market and BTC are affected by a broader aversion to risk. Even silver and gold, which investors typically turn to during uncertain times, have not been spared from selling pressure. However, this does not mean that a larger market crisis has emerged.
The next few trading days may provide a clearer indication of the market trend. Bitcoin needs to hold its key support levels, gold must regain the support areas that it recently lost, and Wall Street also needs to show signs of stabilization. At present, the bigger question is not which asset will rebound first, but whether investors will regain enough confidence to return to the market. Before that happens, volatility is likely to remain high.
