Bitcoin falls below $76,000 as tech stocks slump
Bitcoin dipped to $75,568 as a sharp US tech selloff spilled into crypto, triggering about $1 billion in liquidations, according to CryptoSlate.
The facts
- According to CryptoSlate, Bitcoin hit an intraday low of $75,568 on Thursday and was at $76,830.67 at press time.
- CoinGlass data cited in the report shows about $1 billion in leveraged positions liquidated over 24 hours, hitting more than 201,000 traders. Long positions made up $926.8 million. The figures come from a user-provided screenshot and were not cross-checked.
- The Nasdaq Composite fell 4.9% into correction territory and the S&P 500 fell 3.2%. Nvidia dropped below $200 for the first time since August.
- The report links the selloff to worries about AI infrastructure spending after the US midterms. Citing Ballotpedia, it says 46 of 47 local data-centre measures in 2026 favoured tighter restrictions.
Case notes · Danny's take
Why it matters
Bitcoin is often sold as a hedge. On days like this it trades like a leveraged tech stock. That is the point most people miss. When the AI boom wobbles, crypto gets hit by the same sellers. Nearly 89% of the liquidations were longs, so this was crowded positioning meeting a change in mood, not a crypto-specific problem.
For traders
Don't trade the red candle. Watch whether liquidations keep coming or dry up, and whether Bitcoin keeps moving in step with the Nasdaq. If you use leverage on days like this, size down, because the exchange will close the position for you.
For builders
AI infrastructure spending is now tied to local votes, financing costs and construction costs. If your product depends on data-centre growth, track those signals, not just the chip headlines.
Not financial advice. Do your own investigation.
This story was summarised with AI from CryptoSlate's reporting and checked against our editorial policy. Danny's take reflects his views. Disclaimer.
Danny Walter
Founder of Moon Republic, Volt Terminal and Moon Republic Academy. Author of The Market Is a Crime Scene and After the Applause.