Metric | Value |
|---|---|
BTC price | $76,005 |
BTC 24h change | -5.2% |
ETH 24h change | -7.0% |
Long liquidations (1h) | $428M |
Short liquidations in prior rally (1h) | $378M |
S&P 500 intraday | -3.8% |
Bitcoin dropped to $76,005 on Thursday, down 5.2% in 24 hours, after the S&P 500 lost as much as 3.8% at the Wall Street open, one day after record highs. The move erases Wednesday's rebound, when BTC pushed above $80,000 following the US midterm elections.
What happened on Wall Street
AI and semiconductor stocks led the selling, a day after the Democratic midterm victories. The Nasdaq Composite was down nearly 5% around 11 a.m. ET, approaching a correction, or 10% below its peak.
- Nvidia lost more than 6%
- The S&P 500 was down 3.2% at 11 a.m. ET after an intraday low of -3.8%
- On Wednesday the S&P 500 had gained 1.6%, its best day in three months
The first market-wide circuit breaker triggers at a 7% decline from the previous close, or 7,150.41 points for the S&P 500 in Thursday's session, halting trading for 15 minutes. The next thresholds are 13% (6,689.09 points) and 20% (6,150.89 points), with the last one closing the market for the rest of the day. None had been hit.
Liquidations flipped direction
Roughly $428M in crypto long positions were liquidated within one hour, according to Coinglass data. About 90% of the top 100 cryptocurrencies were in the red during the sell-off.
Wednesday's rally was driven largely by short liquidations: about $378M in one hour as BTC moved above $80,000. Futures data pointed to repositioning rather than a comparable wave of new buyers.
BTC and ETH in numbers
Coin | Price | 24h | 7d | Market cap |
|---|---|---|---|---|
BTC | $76,005 | -5.2% | -5.9% | $1.53T |
ETH | $2,248 | -7.0% | -3.8% | $274.8B |
On the hourly chart, BTC sold through $79,000 to near $76,100. 24-hour trading volume was $40.0B, and the price sits below the all-time high of $126,080.
ETH fell harder than BTC, down 7.0% in 24 hours to $2,248 on $15.5B in trading volume. Over 7 days, ETH is down 3.8% versus -5.9% for BTC.