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Bitcoin falls below $76,000 as AI stocks slide

Bitcoin fell below $76,000 as a sharp AI-stock selloff hit risk appetite, triggering more than $1 billion in crypto liquidations and exposing market ties.

Onchain Report Newsroom#34e3542 min read

Bitcoin falls below $76,000 as AI stocks slide

Bitcoin fell below $76,000 on Thursday as a sharp selloff in AI-linked stocks shook markets and sent crypto traders rushing to close leveraged bets. The drop showed how quickly Bitcoin can move with other risky assets when investors pull back.

CoinDesk’s market report said Bitcoin was down about 5.2% over 24 hours, while Ether fell 7.5%. More than $1 billion in crypto derivatives positions were liquidated, mostly bullish bets made with borrowed money.

What sent stocks and Bitcoin lower?

Investors worried that the AI data-center buildout could slow, reducing demand for chips and other equipment. The concern grew after Tuesday’s U.S. midterm elections gave Democrats control of both chambers of Congress, raising the possibility of more opposition to data-center projects.

FalconX’s Joshua Lim told CoinDesk that fears of slower construction were coming into focus. GSR’s Carlos Guzman said the election added to existing questions about whether the huge sums spent on AI infrastructure will pay off. Disappointing chipmaker earnings added pressure, he said.

The Associated Press reported that the Nasdaq Composite fell 5.5% on Thursday, while the S&P 500 dropped 4.4% and the Dow fell 3.4%. The Nasdaq’s loss was its worst since April 2025. Chipmaker Nvidia fell 9.3%, and Advanced Micro Devices dropped 17.3%.

How did the selloff reach crypto?

Forced liquidations added to the pressure. When traders borrow to bet on rising prices, a sharp drop can trigger automatic sales to cover their positions. CoinDesk reported that most of the liquidated crypto bets were bullish, amplifying the pullback as appetite for risk weakened.

Bitcoin’s slide also came after it gave back gains from Wednesday’s post-election rally. GSR’s Guzman said that earlier bounce was driven partly by traders closing bets against rising prices. The mood shifted as concerns about AI spending and data-center growth returned.

Did Bitcoin keep falling?

By early Friday, Bitcoin had steadied near $76,150 after dipping to around $75,200 late Thursday, according to CoinDesk. Ether was also slightly higher from midnight UTC. The rebound followed the sharp selloff, but did not erase the previous day’s losses.

The move is a reminder that Bitcoin can fall alongside tech stocks when investors reduce risk, even as some crypto traders hope the asset will one day act as a refuge during market turmoil.

Sources