BTC$75,902
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XMR$613.99
DOGE$0.0715Bitcoin drops 5% to $75,500 as tech selloff hits crypto
BTC slid from $81,100 to about $75,500 as the Nasdaq fell roughly 4%. Crypto liquidations reached $0.8–1B over 24 hours and open interest dropped to $26B.
Bitcoin lost about 5% on Nov. 5 and slid to roughly $75,500 as the Nasdaq fell around 4%. Bitcoin.com reports a drop from $81,105 to $76,059, with the session low of $75,468 printed at 10:55 AM ET.
Details
CoinDesk says bitcoin was "plunging tick for tick with the Nasdaq"; at the time of writing BTC traded at $76,394, down 4.96%. The pressure came from AI and chip stocks: Nvidia lost about 8%, while Micron and AMD fell by double digits. Bitcoin.com adds that investors are also weighing AI infrastructure spending, weak chipmaker reports and the recent $6.3 billion Binance hack.
Derivatives took a hit. Bitcoin.com counts $838.5 million in liquidations across 166,904 traders over 24 hours, $213.3 million of it in bitcoin; CoinDesk cites about $1 billion. Futures open interest fell from $28 billion to $26 billion, the lowest since mid-September, and the bitcoin volatility index rose 11% to 44. Our Binance data shows a 24-hour low of $75,568 and a change of about −5.2%.
What this means for the market
The low is close to the level BTC tested on election night on Nov. 4, which we covered separately. That time a rebound followed; this time the driver is different, with bitcoin again moving in step with the tech sector. According to CoinDesk, gold, not crypto, caught the flight from risk.
Numbers move fast, so check the live price in the daily brief.
Not investment advice.
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