Bitcoin slide hits crypto and AI stocks

Physical bitcoin on desk with dim trading room in background as BTCUSD, MSTR, COIN, CRCL slide

Key Points

01Bitcoin (BTCUSD) dropped over 5% below $76,000, hitting one‑month lows
02More than $1 billion in leveraged crypto positions were liquidated
03Crypto market value slid to about $2.6 trillion in 24 hours
04Crypto‑linked stocks including MSTR (MSTR), COIN (COIN) and CRCL (CRCL) fell, with MSTR down 9.6%.

Bitcoin drops below $76,000 as liquidations surge

Bitcoin (BTCUSD) fell below $76,000 in Thursday trading, with prices around $75,900 to $75,996 and down roughly 5%–5.5% over the past 24 hours. The decline pushed the cryptocurrency to more than one‑month lows and back near levels seen before a recent post‑election rally. It was on track for its biggest single‑day slide since June and marked the largest derivatives liquidation event since late October.

More than $1 billion in leveraged crypto positions were liquidated over 24 hours, totaling about $1.08 billion. Bitcoin was the top‑trending crypto ticker on Stocktwits during the move.

Broader crypto market and altcoins decline

The broader cryptocurrency market followed bitcoin lower. Total crypto market capitalization fell about 5.2% over 24 hours to around $2.6 trillion. While bitcoin dropped sharply, major altcoins fell by larger percentages, amplifying overall losses across digital assets.

Major cryptocurrencies held up somewhat better than many AI‑linked stocks.

Crypto and fintech stocks see double‑digit losses

The selloff in digital assets weighed heavily on publicly traded crypto‑related companies. Strategy, a large bitcoin‑treasury company, lost 9.6%.

Coinbase (COIN), Circle (CRCL) and BitGo shares declined between 10% and 15%. Circle (CRCL)’s stock fell nearly 12%, reflecting pressure on stablecoin and trading activity. Retail brokerage Robinhood (HOOD) fell around 12%, while other crypto‑exposed equities, including bitcoin miners, fell as much as 20%.

AI trade, midterm results and miner sentiment

The drop in cryptocurrencies coincided with a sharp selloff in AI‑linked technology stocks and a broader correction in the tech‑heavy Nasdaq index, which was down more than 5% and over 10% below a recent record. Analysts linked the move to investors reassessing the returns on large AI infrastructure spending and reacting to disappointing chipmaker earnings.

Following U.S. midterm elections that gave Democrats control of both chambers of Congress, investors grew more concerned that increased political opposition could slow the construction of data centers that underpin AI growth. This prospect weighed particularly on bitcoin miners, whose shares fell 15%–20%, and on companies pivoting from mining to data‑center and infrastructure roles.

Key Takeaways

01Bitcoin (BTCUSD)’s break below $76,000 triggered a large, leverage‑driven shake‑out that spilled into both digital assets and listed crypto equities.
02Losses in crypto‑linked stocks were often steeper than in bitcoin itself, underscoring how equity investors are pricing in earnings and balance‑sheet sensitivity to price swings.
03AI‑related concerns and U.S. political developments have become important drivers for bitcoin miners and infrastructure‑exposed firms, tying their fate more closely to data‑center expectations.

References