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Bitcoin crashes below $76,000 as AI bubble fears wipe $2.5 trillion from Wall Street

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Bitcoin crashes below $76,000 as AI bubble fears wipe $2.5 trillion from Wall Street

A violent selloff in technology stocks spilled into crypto, triggering $1 billion in liquidations as investors questioned the sustainability of the AI boom.

Technology stocks plunged after the Democratic midterm sweep intensified concerns over AI spending, dragging Bitcoin lower as leveraged traders suffered heavy losses.

Bitcoin hit an intraday low of $75,568 on Thursday and recovered to $76,830.67 as of press time, as a historic selloff in US technology stocks spilled into crypto markets and triggered more than $1 billion in liquidations across leveraged trading positions.

According to CoinGlass data, approximately $1 billion in leveraged positions had been liquidated over the previous 24 hours, affecting more than 201,000 traders.

Bullish positions accounted for $926.8 million, or nearly 89% of the total, compared with $118.2 million in bearish bets.

Bitcoin accounted for $264.2 million in liquidations, followed by Ethereum at $165.3 million and Solana at $33.5 million. The largest single liquidation was a $10.94 million ETH long position on Binance.

Selected categories with clearly legible dollar amounts in the supplied CoinGlass heatmap, displayed in millions of dollars and converted to USD. Other is CoinGlass’s displayed grouped category, not a calculated residual. The list is incomplete and must not be summed as the market-wide total. The heatmap includes equity-linked labels such as SOXL, SNDK and XYZ:MU, not only cryptocurrencies. Exact snapshot time unavailable; figures are shown at screenshot precision and could not be cross-checked against a historical API snapshot.

9% and entered correction territory, falling more than 10% below its October record.



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