Bitcoin Falls Below $76,000 as Global Equity Sell-Off Triggers $1.08 Billion in Crypto Liquidations

Bitcoin was trading at Rs. 70.9 lakh) on Friday as cryptocurrency markets faced renewed selling pressure following a sharp decline in global equities, particularly technology and artificial intelligence (AI) stocks. Ethereum (ETH) was priced at Rs. 2.08 lakh, while major altcoins also recorded losses. Market participants said concerns about slowing AI growth, elevated investor leverage, and uncertainty over the Federal Reserve's December interest-rate decision weakened risk appetite. According to CoinGecko data, Bitcoin traded at $75,600 (roughly Rs. 71.1 lakh), while Ethereum was priced at $2,220 (roughly Rs. 2.08 lakh).

The world's largest cryptocurrency fell 6 percent in the last 24 hours, according to the Gadgets 360 price tracker. Analysts said Bitcoin's 6 percent decline on Thursday erased its post-election recovery, while the Nasdaq fell 4.7 percent and cryptocurrency liquidations reached $1.08 billion (roughly Rs. 10,176.84 crore). The S&P 500 fell 4.4 percent, and the Nasdaq dropped 5.5 percent on November 5, while gold gained 1 percent to $4,100 (roughly Rs. 3.8 lakh) an ounce. 

Major Altcoins Face Selling Pressure on Friday

Binance Coin (BNB) was priced at $690 (roughly Rs. 64,900), while Solana (SOL) traded at $89 (roughly Rs. 8,300). XRP was priced at $1.2 (roughly Rs. 112), while Dogecoin (DOGE) traded at $0.071 (roughly Rs. 6.5). 

Technology Stock Sell-Off and Liquidations Weigh on Crypto Markets

Discussing the impact of weakness in AI and semiconductor stocks on cryptocurrency markets, the CoinSwitch Markets Desk said, “Weakness across AI and semiconductor stocks is dragging on overall market mood, with worries about slower AI growth, possible limits on data-center builds, and high investor leverage fueling the equity sell-off. Bitcoin has slipped back to $76,000 (roughly Rs. 71.6 lakh) amid the pressure. Crypto has held up better than many risk assets, yet BTC's inability to hold gains above $80,500 (roughly Rs. 75.86 lakh) points to still-limited buying interest in the near term.”

Highlighting Bitcoin's decline, cryptocurrency liquidations and institutional investment flows, Prateek Gupta, Head of Business at Mudrex, said, “Bitcoin has lost ground to trade near $76,000 (roughly Rs. 71.61 lakh), with Thursday's 6 percent decline wiping out the gains made after the US midterm elections. Bitcoin had earlier moved above $80,000 (roughly Rs. 75.3 lakh) following the election results. Institutional flows offered some support, as US spot Bitcoin ETFs attracted $74.6 million (roughly Rs. 702.96 crore) on Wednesday, though BlackRock's IBIT recorded its fourth consecutive day of outflows.”

Commenting on the broader market decline, altcoin performance and investor strategy, Vikram Subburaj, CEO of Giottus.com, said, “Bitcoin and the broader crypto market are facing renewed selling pressure as investors reassess risk following a sharp sell-off in global equities [...] Avoid chasing rebounds. Stagger investments, keep position sizes modest and watch Bitcoin's $75,000 (roughly Rs. 70.6 lakh) support level, ETF flows and US economic data before taking fresh exposure.”

Overall, analysts said US spot Bitcoin ETFs attracted $74.6 million (roughly Rs. 702.96 crore) on Wednesday, but continued withdrawals from BlackRock's IBIT and uncertainty surrounding the Federal Reserve's December policy outlook remain concerns. Investors are also monitoring upcoming US economic data for indications of the central bank's next interest-rate decision. Bitcoin's ability to hold support around $75,000 (roughly Rs. 70.67 lakh) will be important for preventing further losses, while a sustained recovery above $80,000 (roughly Rs. 75.38 lakh) could signal improving momentum.