Bitcoin Falls 4.8% to $75,645 as AI Stock Selloff Spreads Into Crypto
Bitcoin dropped 4.8% to $75,645 and Ether fell 6.2% as an AI-led stock selloff and over $1 billion in liquidations hit crypto risk appetite.
Crypto is broadly red today. Bitcoin is down 4.8% to $75,645.4, Ether has fallen 6.2%, and Solana is off 5.3%, as a risk-off move in AI-linked stocks spills into digital assets and erases the post-election bounce Bitcoin had been holding onto.
Today's move
Bitcoin's 4.8% drop puts it back near $75,645.4, with Ether's 6.2% decline and Solana's 5.3% slide both outpacing it. Gains were thin and concentrated in smaller names: AKE surged 128.8%, UAI jumped 89.9%, and BIRB added 19.5%. Among more widely held tokens, ARB rose 4.1%, PEPE gained 3.3%, and WLFI ticked up 2.9%. Losses were broader and sharper: AIN cratered 60.8%, XRP slid 9.4%, JCT fell 8.8%, BCH dropped 8.3%, ENA lost 6.6%, and ONDO was down 6.4%.
What's driving it
This looks like equities leading crypto lower, not the other way around. Decrypt's morning coverage described Bitcoin erasing its election rally as AI stocks cratered, and that weakness has clearly carried over. Coindesk reported more than $1 billion in bullish bets liquidated in the move, with spot ETF flows not stepping in to absorb the selling. Traders are also digesting a hotter-than-expected October jobs report: 165,000 jobs added against a 65,000 estimate, a number strong enough to muddy the rate-cut outlook that had been underpinning risk assets. On the Ether side, there's added protocol-level noise: developers have said they won't fork Glamsterdam onto Hoodi until smart contract risks tied to it are resolved, layering some uncertainty on top of the macro selloff. Solana's slide also comes alongside a report that its Shanghai event was halted over an unauthorized promotion, a token-specific headline even if it isn't the main driver of SOL's move.
Risks
The bottom/accumulation indicator reads 28 out of 100, a red No Bottom Signal print. That means the data doesn't support calling this a reversal yet, and today's price action agrees with it. The multi-week regime has already shifted to caution from neutral, with a 14-day return of -6.9%, and today's drop extends that trend rather than breaking it. With over $1 billion in leveraged longs wiped out and no offsetting ETF demand showing up in spot, the burden of proof is still on the bulls.
What I'm watching next
- Whether equities find footing: Nasdaq 100 futures were pointing to a possible respite after the AI stock rout, and crypto has been tracking that tape closely.
- How the jobs beat, 165,000 versus the 65,000 estimate, reshapes rate-cut expectations, since that has been a key support for risk assets.
- Whether the accumulation indicator moves off 28 toward a more constructive read, which would be the first concrete sign of demand coming back.
- Movement in the $3.1 billion of Binance-linked stolen crypto that Elliptic says still hasn't been laundered.
- Regulatory signals out of emerging markets, including Nigeria's new crypto licensing rules and its ban on algorithmic stablecoins.
Not financial advice. Do your own research.
