Bitcoin Price Drops as Wall Street Experiences Selloff
Bitcoin price falls 6% amid Wall Street selloff
In this article
Bitcoin price decline
Bitcoin price drops were observed as the cryptocurrency lost 6% of its value to $75,700 1. This decrease resulted in significant liquidations, totaling over $1.03 billion 1. The crypto market as a whole was affected, with many assets experiencing price drops 3. Bitcoin fell to about $76,500, down nearly 5% 3.
Ether also experienced a significant decline, shedding more than 5% of its value 3. Roughly 90% of the top 100 cryptocurrencies were in the red during the selloff 3. The S&P 500 lost about 2.6% in late-morning trading, while the Nasdaq sank nearly 4% 3. This decline approached a correction, or a 10% drop from its peak 3.
The decline in Bitcoin's price was triggered by a technology stock selloff, which spread to cryptocurrencies 3. Bitcoin erased Wednesday's post-election rebound Thursday, triggering hundreds of millions in forced liquidations 3. Roughly $428 million in crypto longs were liquidated in one hour 3. The Philadelphia Semiconductor Index dropped about 8% 3.
Bitcoin price drops 6%
Wall street selloff
A selloff on Wall Street contributed to Bitcoin's price decline 2. Bitcoin fell below $76,000 on Thursday 2. The S&P 500 fell 2.7% 2. This downturn was likely triggered by concerns over AI spending and interest rates 3.
Jordan Watson, a portfolio manager at Tandem Investment Advisors, noted that investors may be headed for more volatility 2. The Nasdaq Composite Index lost more than 4% 2. Economist Mohamed El-Erian questioned whether the change in US political trajectory would really have a long-term negative impact on the tech sector 2.
Thursday's technology stock selloff spread to cryptocurrencies, erasing Bitcoin's post-election rebound from Wednesday 3. Chipmakers and AI infrastructure companies took the hit first 3. The Philadelphia Semiconductor Index dropped about 8% 3. Nearly 90% of top 100 cryptocurrencies were in the red during the selloff 3.
Crypto market impact
Crypto market losses were significant, with Bitcoin falling 6% to $75,700 and ether 7% 1. Long positions suffered greatly, resulting in major losses. They accounted for nearly 90% of top 100 cryptocurrencies that were in the red 3.
According to Coinglass data, liquidations topped $1.08 billion, with long positions accounting for over $954 million 5. The overall cryptocurrency market saw a decline of 5.2% in a 24-hour period 5. Bitcoin's price dropped over 5% in the last 24 hours to around $75,900 5.
Major altcoins suffered heavily, dropping over 6% within a day 5. Ethereum, Solana, and Dogecoin each fell more than 6% 5. Ripple's XRP fell over 5% 5. Bitcoin's decline combined with the tech slump to weigh heavily on large-cap crypto equities, causing MSTR stock to fall over 10% 5.
What it means for readers
The price decline and resulting liquidations may be a concern for US crypto investors 1. Bitcoin fell 6% to $75,700 and ether 7% as a Nasdaq selloff hit crypto 1. This triggered $1.03 billion in liquidations, affecting many investors 1. The impact was significant, with major altcoins also experiencing losses 3.
Following Decrypt's report, the development of data centers may also be impacted, with potential restrictions on growth 3. Voters in at least 29 U.S. jurisdictions backed restrictions on data-center development 3. UBS estimates potential pauses could threaten 30% of planned U.S. data-center capacity additions in 2028 3. This could have long-term effects on the industry 3.
The broader market may also feel the effects, with the tech-heavy Nasdaq falling into correction territory 5. Crypto critic Peter Schiff renewed calls of a 'Bitcoin bubble' 5. Liquidations totaled around $1.08 billion, with long positions accounting for $954 million of the wipeout 5. Such significant liquidation underscores the market's volatility 5.
What isn't known yet
The long-term effects of the election results on the crypto market are still uncertain 2. Economist Mohamed El-Erian questioned whether the change in US political trajectory would really have a long-term negative impact on the tech sector 2. The potential impact of Democratic control on the development of data centers is also unknown 3.
Meanwhile, Reuters notes UBS estimates potential pauses could threaten 30% of planned U.S. data-center capacity additions in 2028 3. Generally, the overall impact on the cryptocurrency market and the broader economy remains to be seen 5. Notably, Bitcoin's price had dropped over 5% to around $75,900 5.
Policymakers are watching as the selloff resulted in liquidations topping $1.08 billion, according to Coinglass data 5. Specifically, long positions accounted for the majority of the forced unwinds at over $954 million 5. The company's chief executive, Ted Parkhill of Incline Investment Management, stated the market's movement from the promise of AI to the price of AI is a concern 3. Overall, the crypto market's reaction to the election results is still unfolding 2.
Frequently asked questions
What caused the Bitcoin price decline?
The Bitcoin price decline was likely triggered by a selloff on Wall Street, which was caused by concerns over AI spending and interest rates 3.
How much were the crypto liquidations?
The crypto liquidations totaled over $1 billion, with long positions resulting in significant losses 5.
What is the current state of the crypto market?
The crypto market is currently experiencing a decline, with many assets losing value 3.
About this article
Our system reads Bitcoin, Ethereum, crypto markets, regulation and DeFi coverage from established publishers every hour. A story is only written when at least three independent outlets report it. Every figure must appear in a cited source, and each draft passes automated checks for accuracy, originality and readability. Drafts that score highly on every check publish automatically; the rest wait for a human editor. Drafted with AI assistance from the sources listed. Not financial or professional advice.
- Published.
- theblock.co: Bitcoin erases post-election gains as Wall Street selloff triggers over $1 billion in crypto liquidations · Nov 5, 2026 ET
- cointelegraph.com: Bitcoin crashes 6% to 7-week low as US stocks erase election gains · Nov 5, 2026 ET
- decrypt.co: Bitcoin Erases Election Rally as AI Stocks Plunge, $428 Million in Crypto Longs Get Wiped Out · Nov 5, 2026 ET
- coindesk.com: Bitcoin holds above $80,000 as Zcash jumps 12% in post-election crypto rebound · Nov 5, 2026 ET
- Yahoo Finance: Bitcoin Breaks Below $76K, Wiping Out Over $1B Crypto Bets: MSTR, BMNR, CRCL, COIN Stocks Tumble Double Digits · Nov 5, 2026 ET
- Seeking Alpha: Bitcoin erases post-midterm bounce, leading crypto stocks down (BTC-USD:Cryptocurrency) · Nov 5, 2026 ET
- CoinGecko market data (delayed): Bitcoin and Ether prices at Nov 05, 2026 19:00 ET · Nov 5, 2026 ET
