Crypto Crash Alert: Bitcoin Slides To $76K As Nvidia, AMD Crash And $1B In Crypto Longs Wiped Out

The post-midterm rally lasted just one day. A heavy sell-off in US tech stocks has spread into crypto, wiping out the gains Bitcoin, Ethereum and XRP made after the US elections. More than $1 billion in leveraged crypto bets were wiped out in the fall. The trigger is growing concern over what a Democratic-controlled Congress could mean for artificial intelligence, the theme that has driven markets for three years. According to market data, the largest coins are deep in the red: Binance data showed Bitcoin falling as low as $75,568 and Ethereum as low as $2,236.78 during the session.