Bitcoin Targets $75K as Crypto Liquidates $500M Around Stocks Sell-Off
Leveraged long positions made up 88.2% of the total as traders unwound bets across Bitcoin, Ethereum and Solana, CoinGlass data showed.
- Bitcoin fell below $76,000 on Thursday, reversing earlier gains that had pushed the cryptocurrency above $80,000 following last week's midterm elections.
- Traders rotated sharply out of technology stocks after Democrats swept the U.S. House of Representatives and Senate, amid concerns that party policies could curb AI capital expenditure.
- Cryptocurrency liquidations surged to $1.08 billion over 24 hours, with CoinGlass reporting 210,326 traders wiped out and long positions accounting for 88.2% of total losses.
- The Nasdaq Composite fell 4.7% during Thursday's trading, while gold gained nearly 3.4% on Wednesday and reached its highest level since October 20 on Thursday.
- Jordan Watson, a portfolio manager at Tandem Investment Advisors, told CNBC, "We may be headed for more volatility as investors digest the election results," cautioning that equity gains should not signal an all-clear.
41 Articles
41 Articles
Crypto crash liquidates $954M in longs and $127M in shorts
Bitcoin has fallen below $76,000 on Nov. 5 as a cryptocurrency selloff has wiped out $954.38 million in leveraged long positions, pushing total 24-hour liquidations to $1.08 billion. According to CoinGecko, Bitcoin fell 5.8% over the past 24 hours to…
The encrypted currencies lost about $132 billion within 24 hours, and Bitcoin lost to the lowest level in 7 weeks, with the wave of the sale of technology shares shifting to digital assets, and the continued pressure of penance penetration and the withdrawals of Bitcoin boxes.
The sharp sell-off in US stock markets, particularly in technology stocks, has also affected the cryptocurrency market. Bitcoin lost 4.6% of its value in the last 24 hours, falling below $76,000 during the day. The total value of the global cryptocurrency market also decreased by 4.22%, falling to $2.56 trillion.
NEW YORK (ANP/BLOOMBERG) - Bitcoin dropped sharply in value on Thursday as the sell-off of tech stocks on Wall Street spilled over into risky investments such as cryptocurrencies. The world's largest cryptocurrency was trading for around $76,000, representing a daily loss of around 5 percent....
A sharp sell-off in US stock markets, led by technology stocks, has spread to the cryptocurrency market. Bitcoin fell below $76,000 during the day, while the global cryptocurrency market's value dropped to $2.56 trillion.
Coverage Details
Bias Distribution
- 67% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
