Bitcoin falls to $75,700 as AI stock rout triggers crypto liquidations

Bitcoin’s rise after the elections was short-lived. After hitting the $80,000 mark on Wednesday, it fell to $75,700 on Thursday, which is 6% less than the previous day, as the AI stocks crash spread on Wall Street. Ether also plunged by more than 7% to $2,247, as per The Block . Liquidations are not ETF redemptions The crypto market crash caused leveraged investors to exit their positions. According to data from CoinGlass and quoted by The Block, $1.1 billion was liquidated within only 24 hours, amounting to almost 211,000 positions. In one of the four-hour periods alone there were losses of $879.92 million, including $818.90 million in long positions. The liquidation numbers show the forced exit of leveraged positions, not the money being withdrawn from Bitcoin ETFs.

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