Bitcoin wipes out post-midterm rally as tech selloff drives $1 billion in liquidations
Bitcoin fell about 6% on 5 November to roughly $75,700, with an intraday low near $75,570, as a sharp slide in AI and tech shares spread into crypto. Ether dropped more than 7% to about $2,250. CoinGlass data showed around $1.09 billion in leveraged positions liquidated over 24 hours, mostly longs. The Nasdaq lost close to 4.7%, and crypto-linked stocks including Coinbase, Strategy and Circle each fell more than 10%.