Bitcoin falls nearly 5% as market selloff triggers $428M in long liquidations
CIE News ·
Based on reporting by Decrypt; not yet independently confirmed.
Bitcoin dropped almost 5% alongside sinking AI stocks, wiping out a Wednesday rally and resulting in $428 million in crypto long position liquidations, Decrypt reported.
Bitcoin (BTC) dropped nearly 5% following a broader market decline that saw artificial intelligence stocks tumble, according to Decrypt. The downturn reversed gains from a Wednesday rally that had been partially driven by short covering, while also triggering $428 million in forced liquidations of crypto long positions. Volatility across the market also followed Democratic midterm election victories, which Decrypt noted raised fresh policy questions.
Key facts
- BTC drops nearly 5%
- $428M in crypto longs liquidated
- AI stocks slide