Key Facts

  • Bitcoin dipped to below $76,000 on Thursday as the Nasdaq 100 dropped about 5%, erasing the gains it made after the midterm vote, CoinMarketCap data show.

  • More than $600 million in bullish crypto bets were liquidated in four hours, including about $190 million in Bitcoin, CoinGlass data show.

  • Glassnode puts support at $73,000 to $76,000 and says a sustained break below $73,000 would point to a longer consolidation.

Bitcoin dipped to below $76,000 on Thursday as the Nasdaq 100 dropped about 5%, erasing the gains it made after the midterm vote, CoinMarketCap data show.

More than $600 million in bullish crypto bets were liquidated in four hours, including about $190 million in Bitcoin, CoinGlass data show.

Glassnode puts support at $73,000 to $76,000 and says a sustained break below $73,000 would point to a longer consolidation.

A CryptoQuant gauge of how closely Bitcoin tracks the S&P 500 turned positive early Thursday for the first time in data going back to 2015.

Why Did Bitcoin Fall? Tech Stocks Slid After the Open

Nvidia was on track for its biggest drop since April 2025, according to market wires, and AMD fell further. Qualcomm also slid after a weak profit forecast. Tandem Investment Advisors portfolio manager Jordan Watson said investors may face more volatility as they absorb the results, Le Private Banker also reported.

Who Was Forced Out? Traders Betting on Further Gains

Where Is Support? Glassnode's Band Between $73K and $76K

What Signals a Deeper Drop? A Break Below $73K

Bitcoin traded around $76,500 at 11:20 a.m. ET, CoinMarketCap data show.

A further drop of about 4% would take it to $73,000.