Bitcoin falls below $76,000 as AI-led stock rout hits markets

Bitcoin fell 5.2% to just below $76,000 on Thursday, Nov. 5, as a selloff in AI-linked stocks swept markets, according to CoinDesk’s market report.

• Bitcoin reached an intraday low of $75,208, its lowest level since Sept. 16, according to Binance data cited by Unchained.
• More than $1 billion in crypto derivatives positions were liquidated in 24 hours, most of them bullish bets.
• The Nasdaq Composite fell 5.5% and the S&P 500 fell 4.4% on Thursday, according to the Associated Press.
• The Philadelphia Semiconductor Index dropped 12%, its steepest daily fall since March 2020.

What sent bitcoin lower with technology stocks?

Investors were weighing whether political opposition could slow construction of data centers that power AI services. The Associated Press reported that AI stocks came under pressure after Democratic victories in the U.S. midterm elections raised concern about possible moratoriums on data centers.

Bitcoin had climbed above $81,000 on Wednesday, then surrendered those gains during Thursday’s selloff. Unchained, citing Binance trading data, reported that the sharpest slide came between 9 a.m. and 11 a.m. ET, around the U.S. stock market open, when bitcoin fell from about $79,700 to $75,568.

Crypto was caught in a broader retreat from riskier assets, but its fall was smaller than the Nasdaq 100’s 6.4% decline. CoinDesk reported that bitcoin was down about 5.5% over 24 hours in a later update, while ether fell 7.5% and XRP and solana each lost 5.5%.

Why were data centers part of the crypto story?

Some bitcoin miners have expanded into hosting computing for AI data centers, so a slowdown in new construction could affect those businesses as well as chipmakers and other technology firms. CoinDesk quoted Joshua Lim, global co-head of markets at crypto brokerage FalconX, saying investors were reacting to the prospect of slower data-center growth.

GSR research vice president Carlos Guzman told CoinDesk that the midterm results added to existing doubts about the returns on heavy AI infrastructure spending. He also pointed to disappointing chipmaker earnings as another source of pressure. Those comments describe analysts’ explanations for the selloff; they do not establish a single cause for bitcoin’s move.

Crypto’s decline also accelerated as leveraged traders were forced to close positions. Liquidations happen when an exchange automatically closes a trader’s leveraged bet after losses reach a set level. CoinDesk, citing CoinGlass, reported more than $1 billion in liquidations over 24 hours, mostly from bets on rising prices.

For traders, the forced selling showed how quickly borrowed positions can deepen a market move. Guzman told CoinDesk that leverage had amplified the pullback in risk appetite. The report did not say whether the selloff had ended.

How did bitcoin compare with the stock market?

The stock declines were steep across major U.S. indexes. The Associated Press account of Thursday’s market close said the S&P 500’s 4.4% drop erased its gain from the previous day, while the Dow lost more than 1,800 points.

The Nasdaq Composite’s 5.5% fall was its worst daily drop since April 2025, AP reported. The Nasdaq 100, which has a heavier concentration of technology companies, fell 6.4%, while the semiconductor index lost 12%.

Bitcoin’s slide wiped out its post-election rally and returned it to prices last seen before Wednesday’s rise. CoinDesk quoted Wintermute trader Jasper De Maere cautioning against drawing conclusions from one session. The immediate picture was a sharp decline across stocks and crypto, with leveraged positions adding to the pressure on digital assets.

Sources and documents

• CoinDesk’s market report — coindesk.com
• Associated Press account of Thursday’s market close — apnews.com