Bitcoin falls below $76,000 as tech stocks sell off

Bitcoin fell below $76,000 on November 5 as a sharp selloff in U.S. technology stocks spread to cryptocurrencies, reversing gains made after the midterm elections and prompting large liquidations of leveraged trades. On Bitstamp, Bitcoin reached an intraday low of $75,463, its weakest level since September 16, according to reported market data. Other reports placed it around $76,400 to $76,500 at their observation times. The decline coincided with losses in major U.S. stock indexes. The Nasdaq Composite fell as much as 5% in early trading, while reports later put its decline at more than 4%. The S&P 500 also dropped. Technology and semiconductor shares were among the weakest, as investors reassessed the outlook for artificial-intelligence infrastructure spending and borrowing costs. Crypto liquidations added to selling pressure as exchanges closed leveraged positions after prices fell. CoinGlass figures cited in reports covered different periods: one put total liquidations over 24 hours near $850 million, another reported $428 million in long positions liquidated in one hour, and a third cited more than $574 million in liquidations during an hour. These measures reflect...