Bitcoin Erases Election Rally as AI Stocks Plunge, $428 Million in Crypto Longs Get Wiped Out
AI summary
Bitcoin fell nearly 5%, erasing the rally it had built after the US election, as AI-linked stocks sold off sharply. The drop triggered $428 million in liquidations of crypto long positions, and Democratic midterm wins added new policy uncertainty for the sector. Traders should watch whether leveraged longs continue to unwind and whether the policy backdrop pressures risk assets further.
