Bitcoin faces pressure as US stocks fall, BlackRock Bitcoin ETF sees $201 million outflow

Bitcoin came under renewed pressure on Thursday as significant losses in US equity markets threatened the cryptocurrency’s recent post-election rebound above $80,000. On November 5, the S&P 500 slipped by about 1.7% during morning trading hours, while the Nasdaq Composite fell 3.1%. These declines followed a brief rally the previous day, when the S&P 500 rose 1.6% after the Democratic Party secured control of Congress in the US midterm elections. Market analysts noted that semiconductor and artificial intelligence infrastructure firms faced renewed volatility, with investors reassessing the prospects for data center construction and technology spending. Qualcomm shares plunged more than 10% after releasing lackluster earnings tied to its smartphone segment, and Nvidia, along with several other major tech stocks, also weakened.

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