# Bitcoin Erases Election Rally as AI Stocks Plunge, $428 Million in Crypto Longs Get Wiped Out

- URL: https://talkfuse.com/story/bitcoin-erases-election-rally-as-ai-stocks-plunge-428-million-in-crypto-longs-get-wiped-out/
- Published: 2026-11-05T16:29:11+00:00
- Updated: 2026-11-05T21:56:07+00:00
- Original publisher: Decrypt
- Original article: https://decrypt.co/382612/bitcoin-erases-election-rally-ai-stocks-plunge-428-million-crypto-longs
- Topics: AI, Business, Crypto, Elections, Government, Markets, Politics, Technology

## Key points

- Bitcoin fell back to about $76,500.
- One hour of trading wiped out $428 million in crypto longs.
- AI spending and interest-rate concerns pressured markets.

## Summary

Bitcoin fell nearly 5% to about $76,500 on Thursday, wiping out its post-election rise above $80,000 as a technology share selloff spread to cryptocurrencies. The reversal triggered heavy forced selling, showing how quickly leveraged trading can amplify market moves.

About $428 million in crypto long positions were liquidated in one hour, while roughly 90% of the top 100 cryptocurrencies fell. The Nasdaq dropped nearly 4% and the S&P 500 about 2.6%, as investors reassessed AI spending, interest rates and the implications of Democrats’ election gains for data-centre development and crypto regulation. Bitcoin had already lost ground in recent weeks amid broader market concerns and the fallout from a major Binance hack.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.