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Tickers
Bitcoin fell more than $5,000 in under a day to an intraday low of $75,568 on November 5, then recovered to $76,830, as AI bubble fears wiped $2.5 trillion from Wall Street and a Nasdaq chip rout erased $140 billion in crypto market cap in just four hours. In the latest session, Bitcoin slid about 6% to $75,700 and Ether dropped 7% to $2,247.74, with total crypto liquidations reaching $1.03 billion. Most recently, Bitcoin held near $76,000 Thursday afternoon as the Nasdaq sank deeper into a correction, liquidations topped $1 billion, and Strategy, Coinbase and bitcoin miners sold off in double digits, reversing Bitcoin’s post-electi…
Bitcoin held near $76,000 Thursday afternoon as the Nasdaq sank deeper into a correction, crypto liquidations topped $1 billion, and crypto-linked equities sold off sharply, according to Bitcoin Magazine.
Bitcoin and Ether Under Pressure
Bitcoin traded around $76,000 in the afternoon session. The move came alongside a broader decline in technology stocks, with the Nasdaq falling further into correction territory.
Ether also weakened, dropping 7% to $2,247.74, while Bitcoin slid about 6% to $75,700 in the latest session.
Liquidations Top $1 Billion
Total crypto liquidations reached $1.03 billion, according to the report, as the selloff accelerated.
Crypto-Linked Stocks Fall Double Digits
Equity proxies for crypto exposure sold off in double digits:
- Strategy
- Coinbase
- Bitcoin miners
Earlier Slide and Partial Rebound
The latest session followed a sharp move in the prior day’s trading. Bitcoin fell more than $5,000 in under a day to an intraday low of $75,568 on November 5, then recovered to $76,830.
The report linked the pressure to fears of an AI bubble, which it said wiped $2.5 trillion from Wall Street, while a Nasdaq chip rout erased $140 billion in crypto market cap in just four hours.
The selloff also reversed Bitcoin’s post-election gains, according to the report.