Bitcoin erases election gains after AI stock selloff
BROBROK News · Based on reporting by Decrypt ·
Markets reversed sharply on Thursday as AI-related stocks led a broad risk-off move that also hit crypto. Bitcoin fell back below its pre-election level, while Ethereum and several altcoins posted steeper losses amid more than $1.1 billion in liquidations.
Key points
- The S&P 500 fell 4.36% and the Nasdaq dropped 5.52%, entering correction territory.
- Bitcoin slid 5.4% to $75,871, below its pre-election trading level.
- Ethereum fell 7.6%, with XRP and other altcoins also dropping sharply.
- More than $1.1 billion in crypto long positions were liquidated on the day.
- Zcash and Monero outperformed the broader crypto market and stayed positive on the week.
Why it matters
The move shows crypto remains tightly linked to broader risk sentiment, especially when tech stocks and macro expectations shift. It also highlights how political and regulatory concerns around AI infrastructure can ripple into digital assets.
Original headline: “Morning Minute: Bitcoin Erases Election Rally as AI Stocks Crater”
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.