Bitcoin falls to $75,700 as AI stock rout triggers crypto liquidations

Bitcoin fell to $75,700 on Thursday, down 6% from the previous day, after reaching $80,000 on Wednesday as a selloff in AI stocks spread on Wall Street; ether dropped more than 7% to $2,247. In the crypto market, $1.1 billion was liquidated in 24 hours across almost 211,000 positions, reflecting forced exits of leveraged positions rather than ETF withdrawals. Spot Bitcoin ETFs had already recorded $1.16 billion in net outflows from October 30 through November 3, then a $74.6 million net inflow on November 4, when Fidelity’s FBTC gained $236.7 million and BlackRock’s IBIT lost $201.2 million. The Nasdaq closed Thursday down 5.5% at 24,315.00, 11.9% below its October peak, while the S&P 500 fell 4.4% and Nvidia dropped 9.3%.