Bitcoin erases post-election gains as Wall Street selloff hits $1B in liquidations

Bitcoin and other cryptocurrencies experienced significant declines as a Wall Street selloff triggered over $1 billion in liquidations. Bitcoin fell 6% to approximately $75,700, while Ethereum dropped 7% amid a broader selloff in technology stocks, including a 5% decline in the Nasdaq. The downturn erased Bitcoin’s post-U.S. midterm election gains, which had seen the cryptocurrency rise above $80,000. The event marked a reversal in digital asset performance, reflecting broader risk-off sentiment in the financial markets. Observers will be monitoring the Federal Reserve and other key actors, such as the U.S.