{"id":248122,"date":"2026-11-05T15:48:18","date_gmt":"2026-11-05T15:48:18","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=248122"},"modified":"2026-11-05T15:48:18","modified_gmt":"2026-11-05T15:48:18","slug":"bitcoin-price-crashes-over-5-to-75000-as-tech-rout-wipes-out-leveraged-longs","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=248122","title":{"rendered":"Bitcoin Price Crashes Over 5% to $75,000 as Tech Rout Wipes Out Leveraged Longs"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

Bitcoin Price Crashes Over 5% to $75,000 as Tech Rout Wipes Out Leveraged Longs<\/a><\/p>\n

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Bitcoin price fell about 5% on Thursday morning, sliding from above $80,800 to near $76,000 as a sharp selloff in technology stocks spread into crypto and wiped out leveraged traders betting on further gains, Bitcoin Magazine Pro<\/em> data shows.<\/p>\n

The drop erased the rebound that had carried bitcoin back above $80,000 overnight. It touched a low near $76,100 shortly after the U.S. stock market opened, its weakest level since the start of the week.<\/p>\n

The reversal came fast. Bitcoin held near $80,000<\/a> through Wednesday, and early Thursday traders were cheering a short squeeze that pushed it past $80,500. Within roughly two hours of the opening bell, the bitcoin price was more than $4,000 lower.<\/p>\n

Wall Street\u2019s AI trade breaks<\/h2>\n

The trigger sat on Wall Street. The Nasdaq Composite tumbled<\/a> as much as 3.9% on Thursday and slipped into correction territory, trading 10% below the record close it set last month, CNBC<\/em> reported. The S&P 500 fell<\/a> about 2%, erasing Wednesday\u2019s rally, its best session in three months.<\/p>\n

Chip and AI stocks took the worst of it. Nvidia and Broadcom each fell about 5%, Tesla lost around 9% and neocloud names CoreWeave, Nebius and IREN dropped<\/a> between 9% and 13%. Qualcomm slid 9% after a weak outlook. Sandisk was down nearly 19% at the time of writing. <\/p>\n

Investors are pricing in a Democratic-controlled Congress after Tuesday\u2019s midterms. Traders fear new limits on the data center buildout, and UBS analysts estimated<\/a> that around 30% of U.S. data center capacity additions expected in 2028 could be at risk from construction pauses, Reuters<\/em> reported. The selling started in Asia, where South Korea\u2019s Kospi closed<\/a> down more than 5% as Samsung and SK hynix sank.<\/p>\n

U.S. stocks shed $2.3 trillion in market value within the first hour of trading, with the Russell 2000 plunging 2.5% and on pace for its biggest one-day drop since June 5<\/p>\n

Bitcoin price has traded alongside that AI-heavy tech complex for most of the year, and bitcoin miners are now part of it. Many have sold bitcoin<\/a> to fund AI data centers, so the same political risk now weighs on both.<\/p>\n

Leverage unwinds<\/h2>\n

Leverage turned the move into a flush. Roughly $370 million in leveraged crypto positions were liquidated in about an hour as bitcoin broke $77,000 and ether fell below $2,300, most of them long bets. Wider tallies circulating on X put long liquidations closer to $400 million over the same 60 minutes.<\/p>\n

The U.S. stock market shed<\/a> more than $1 trillion in value within minutes of the open, and crypto went with it.<\/p>\n

Wednesday\u2019s short squeeze had pulled in late buyers with borrowed money. When stocks broke, those positions were the first to go, and forced selling pushed the bitcoin price through support around $77,000.<\/p>\n

Hot labor data cools rate-cut hopes<\/h2>\n

The macro backdrop offered little cover. Initial jobless claims fell<\/a> to 189,000 last week, matching July\u2019s level, which was the lowest since 1969, Reuters<\/em> reported. Economists had expected 196,000.<\/p>\n

A labor market that tight gives the Federal Reserve little reason to ease. That leaves risk assets leaning on growth stories like AI to carry them, and that story is now under political pressure.<\/p>\n

Fund flows were only a small offset. U.S. spot bitcoin ETFs took in a net $74.6 million on Wednesday, breaking a three-day run of outflows, led by Fidelity\u2019s FBTC while BlackRock\u2019s IBIT saw money leave.<\/p>\n

What comes next for bitcoin price<\/h2>\n

The next test is Friday\u2019s October jobs report, followed by October CPI on Nov. 10 and the Fed\u2019s Dec. 9 decision. Policy risk is building too, with House Democrats drafting their own market structure bill<\/a> ahead of taking over the committees in January.<\/p>\n

Traders are watching whether bitcoin can hold the $75,000 area, which held as support on election night and several times since August. A break would leave the bitcoin price near its lowest levels in months.<\/p>\n

At the time of writing, the bitcoin price is near $76,200.<\/p>\n

This post Bitcoin Price Crashes Over 5% to $75,000 as Tech Rout Wipes Out Leveraged Longs<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Bitcoin Price Crashes Over 5% to $75,000 as Tech Rout Wipes Out Leveraged Longs Bitcoin price fell about 5% on Thursday morning, sliding from above $80,800 to near $76,000 as a sharp selloff in technology stocks spread into crypto and wiped out leveraged traders betting on further gains, Bitcoin Magazine Pro data shows. […]<\/p>\n","protected":false},"author":0,"featured_media":248123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-248122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/248122"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=248122"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/248122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/248123"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=248122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=248122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=248122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}