Bitcoin Erases Election Rally as AI Stocks Plunge, $428 Million in Crypto Longs Get Wiped Out
Summary
Bitcoin dropped almost five percent, wiping out a recent market rally that followed the US midterm elections. The decline coincided with a sharp drop in artificial intelligence stocks and triggered significant forced liquidations across the cryptocurrency sector.
Bitcoin plunged nearly 5% as AI stocks sank, Democratic midterm wins raised fresh policy questions, and forced liquidations erased a Wednesday rally that had been fueled partly by short covering.
Source: Read the full story at Decrypt
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