Bitcoin falls 5.7% to $75,994 as AI stocks and US indexes slide

Bitcoin reversed its previous gains on November 5 as technology shares linked to artificial intelligence dropped sharply and a wave of crypto long liquidations swept through the market. The cryptocurrency’s price fell nearly 5% in a single day, with CoinGecko recording a value of $75,994 at 18:13 UTC, representing a 5.7% decline over 24 hours. Major US equities also declined on November 5, as investors grew cautious about prospects for returns on AI infrastructure spending. The S&P 500 lost 3.5%, the Dow Jones Industrial Average dropped 1,433 points (2.7%), and the Nasdaq Composite fell by 4.7% within the same trading period, according to data from the Associated Press. On the cryptocurrency side, Decrypt reported that roughly $428 million in long positions were liquidated within a single hour.

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