Bitcoin Slides Below $76,000 as the Tech Rout Spills Into Crypto

Bitcoin’s attempt to stabilize has run into a much bigger market problem: investors are dumping risk across both technology stocks and crypto.

The world’s largest cryptocurrency fell below $76,000 as a sharp selloff in high-growth technology shares moved into digital assets. The move was not an isolated crypto event.

It arrived alongside a broad retreat from the trades that had benefited most from confidence in artificial-intelligence spending.

CryptoSlate reported that Bitcoin touched an intraday low near $75,568 before recovering toward $76,831. The same session produced more than $1 billion in leveraged crypto liquidations across roughly 201,000 traders, with long positions accounting for nearly 89% of the total and showing that bullish leverage absorbed almost all of the forced unwind.

Bitcoin positions represented about $264 million of those liquidations, followed by Ethereum at roughly $165 million and Solana near $34 million.

The largest single liquidation cited in the report was a $10.94 million Ethereum long position on Binance, showing how quickly concentrated leverage became a market-wide problem.

The damage crossed the largest assets instead of remaining confined to a thin corner of the market.

That matters because leverage turns a normal decline into forced selling. As prices fall, exchanges close positions that no longer meet collateral requirements.

Those liquidations create additional sell orders, which can push prices lower and trigger the next round.

Not surprising to see this morning tech again underperforming the broader market post-midterms, even with the improved valuations (CNBC data below).

Will the shift in Congress actually slow tech down?
If yes (as many assume, though I’m less sure), can the rest of the market and… pic.twitter.com/HRcglzQrYw

— Mohamed A. El-Erian (@elerianm) November 5, 2026

The pressure was even clearer on Wall Street. The Nasdaq Composite dropped 4.9%, the S&P 500 lost 3.2%, and the Dow fell by more than 1,100 points.

The report cited an estimate from The Kobeissi Letter that roughly $2.5 trillion in U.S. stock-market value had disappeared during the rout.

The immediate debate is whether investors are merely resetting aggressive expectations for AI infrastructure or questioning the entire spending cycle. That distinction is important for Bitcoin because the asset has increasingly traded like a high-beta technology position during periods of market stress.

Technically we’re calling the top on AI infrastructure spending estimates, not saying that there won’t be continued spending on AI infrastructure.

— Citrini (@citrini) November 5, 2026

The next signal will come from market structure rather than one dramatic headline. If Bitcoin can hold the mid-$75,000 area while liquidations cool, the forced-selling phase may be nearing exhaustion.

If technology shares continue sliding and fresh leverage keeps entering the market, another break lower could develop quickly.

Bitcoin is still trading as a high-risk asset when markets panic. This selloff began in equities, and leverage carried the damage directly into crypto.

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