Summary
- AI selloff wipes out Bitcoin’s post-election gains. BTC briefly topped $81K before falling back toward $76K as the Nasdaq plunged 5.52%. The heavy losses in tech stocks may have forced some investors to sell Bitcoin for cash, while others reduced their exposure to riskier assets.
- Crypto capital continues to flow out. BTC and ETH ETF flows turned negative again after one day of inflows. Stablecoin supply has also shrunk nearly 2% over the past week, while Coinbase Premium has stayed below zero since October 30. Gold, meanwhile, gained nearly 5% over two days, and US Treasuries attracted demand.
- Over $1B liquidated, but leverage remains elevated. BTC open interest is still near 690K BTC, roughly 10% above its October low, while funding rates have become mixed. Bitcoin is now testing the $75K to $76K area, with lower oil prices and reduced expectations for a December Fed hike offering some support.
Bitcoin’s recovery above $81K lasted barely a day before a sharp selloff in US technology stocks sent it back toward $76K. More than $1B in leveraged crypto positions were liquidated, while Ethereum and major altcoins suffered even steeper losses. With
