<p style="text-align: justify"><a href="https://en.coin-turk.com/bitcoins-price-plummets-sparking-concerns-in-the-crypto-market/" rel="noopener noreferrer nofollow">Bitcoin</a> slipped below $76,000 on Thursday, falling in tandem with a sharp reversal across global risk assets. The sudden drop followed a period of gains spurred by the US midterm elections, as traders appeared to move away from technology stocks and other risk-driven investments.</p>
<h2 id="selling-pressure-intensifies-as-risk-assets-fall">Selling pressure intensifies as risk assets fall</h2>
<p style="text-align: justify">According to TradingView data, BTC/USD plunged more than 6% to reach $75,463 on Bitstamp, marking its lowest level since September 16. This deepened pressure on Bitcoin, which briefly fell beneath its 50-week simple moving average at $75,733, testing a key support level for the asset.</p>
<p style="text-align: justify">The risk-off shift was evident in traditional markets as well. After Democrats secured control of both the House of Representatives and the Senate in the US midterms, equities initially posted swift gains. However, Thursday saw a significant reversal, with the S&amp;P 500 down 2.7% and the technology-focused Nasdaq Composite Index tumbling 4.2% to its lowest point since July 29.</p>
<table style="border:1px solid #f1e4d8;padding:8px">
 <thead>
  <tr>
   <th>Index/Asset</th>
   <th>One-Day Change</th>
   <th>Latest Level</th>
   <th>Lowest Since</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>Bitcoin (BTC)</td>
   <td>-6%</td>
   <td>$75,463</td>
   <td>September 16</td>
  </tr>
  <tr>
   <td>Nasdaq Composite</td>
   <td>-4.2%</td>
   <td>N/A</td>
   <td>July 29</td>
  </tr>
  <tr>
   <td>S&amp;P 500</td>
   <td>-2.7%</td>
   <td>N/A</td>
   <td>N/A</td>
  </tr>
 </tbody>
</table>
<h2 id="crude-oil-rebounds-as-investors-eye-geopolitical-risks">Crude oil rebounds as investors eye geopolitical risks</h2>
<p style="text-align: justify">While technology stocks led losses, oil prices rebounded. West Texas Intermediate (WTI) crude rose above $90 per barrel and Brent crude added 2.5%, nearing $97. This came amid news of renewed strikes on tankers in the Middle East and uncertainty regarding potential policy moves by Democrats related to the US-Iran conflict.</p>
<h2 id="market-volatility-and-trader-reactions">Market volatility and trader reactions</h2>
<p style="text-align: justify">Portfolio manager Jordan Watson of Tandem Investment Advisors commented to CNBC that increased market volatility is likely as investors process the election outcome and its policy effects. Watson warned that recent rallies in equities should not be seen as an “all-clear signal.”</p>
<blockquote>
 <p>“We may be headed for more volatility as investors digest the election results and potential policy implications. Gains in equities following the midterm results should not be treated as an all-clear signal,” noted Watson.</p>
</blockquote>
<p style="text-align: justify">Concerns also emerged around the impact of Democratic policies on the technology sector, especially given the party’s more cautious outlook towards artificial intelligence spending. Some analysts fear this could dampen already fragile capital expenditure plans in the sector.</p>
<p style="text-align: justify">Economist Mohamed El-Erian questioned whether the shift in Congressional power would have a long-term effect on the technology industry. He observed that the day’s weakness in tech stocks was “not surprising,” but remained uncertain about the lasting consequences for broader markets without the continued support of tech earnings and investment.</p>
<p style="text-align: justify">Crypto markets experienced significant liquidations as a result of the volatility. Data from CoinGlass showed nearly $500 million in liquidations occurred within the first hour of US trading, with total 24-hour liquidations approaching $850 million.</p>
<p style="text-align: justify">Bitcoin approached the lower end of its one-month trading range, risking the loss of support at its 50-week simple moving average of $75,733. Market analysts highlighted similarities to May, when previous consolidations above $80,000 eventually broke down, leading to lows of $57,000 in the following weeks.</p>
<p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: CoinGlass is a crypto derivatives and market data platform that tracks statistics such as liquidations, open interest, and funding rates in real time for major cryptocurrency exchanges.</p>
<blockquote>
 <p>Analysts pointed to Bitcoin’s tendency for sharp breakdowns after periods of rangebound trading, referencing price action from earlier this year when BTC fell from consolidation to new lows within weeks.</p>
</blockquote>
<p>The post <a href="https://en.coin-turk.com/bitcoin-drops-below-76000-as-risk-assets-slide-and-tech-stocks-tumble/" rel="noopener noreferrer nofollow">Bitcoin drops below $76,000 as risk assets slide and tech stocks tumble</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bitcoin drops below $76,000 as risk assets slide and tech stocks tumble

Table of Contents

COINTURK NEWS

Other articles published on Nov 5, 2026

Join our free newsletter for daily crypto updates!