Bitcoin slips under $76,000 as tech selloff hits crypto
Bitcoin hit an intraday low of $75,568 on Thursday as a sharp slide in US tech stocks, tied to worries over AI spending, spilled into crypto and hurt leveraged traders.
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Key takeaways
- Bitcoin touched an intraday low of $75,568 on Thursday, Nov 5, 2026.
- It recovered to about $76,830 at the time of the source report.
- The trigger was a heavy selloff in US tech stocks, driven by renewed doubts about AI spending.
- The source links the worry to the Democratic midterm sweep and says leveraged traders took heavy losses.
- Wall Street reportedly lost around $2.5 trillion in the rout.
Bitcoin fell to an intraday low of $75,568 on Thursday, then clawed back to roughly $76,830 as of press time, according to CryptoSlate. Nothing crypto-native caused it. Wall Street did.
What happened
US technology stocks sold off hard, and the source calls it a historic move. The reported damage to Wall Street comes to about $2.5 trillion. The selloff followed the Democratic sweep in the midterms, which sharpened concerns about how much money is pouring into AI and whether it will pay off.
Crypto got pulled down with it. Leveraged traders ended up on the wrong side and took heavy losses, per the report. The full liquidation figures were cut off in the material I have, so I won't guess at them.
The catch
Bitcoin has long been pitched as an escape from traditional markets. On days like this, it behaves like a high-beta tech stock instead. When equities drop on AI-bubble fears, crypto doesn't read as a hedge. It reads as one more risk asset to dump.
Why it matters
If you hold Bitcoin, keep an eye on the Nasdaq as closely as you watch your usual charts. If you trade with leverage, a macro-driven move like this can wipe out positions fast, even when nothing in crypto itself has changed. The partial rebound above $76,000 is a small relief, not a sign the pressure has passed. The real question is whether tech steadies, because right now Bitcoin appears to be following it.
Source: CryptoSlate
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Daniel Okoro
Daniel tracks crypto regulation and policy across the US, EU and Asia, with a decade in financial journalism.
