Bitcoin drops below $76,000 as risk assets slide and tech stocks tumble

Bitcoin slipped below $76,000 on Thursday, falling in tandem with a sharp reversal across global risk assets. The sudden drop followed a period of gains spurred by the US midterm elections, as traders appeared to move away from technology stocks and other risk-driven investments. According to TradingView data, BTC/USD plunged more than 6% to reach $75,463 on Bitstamp, marking its lowest level since September 16. This deepened pressure on Bitcoin, which briefly fell beneath its 50-week simple moving average at $75,733, testing a key support level for the asset. The risk-off shift was evident in traditional markets as well.