Bitcoin crashes 6% to 7-week low as US stocks erase election gains
Bitcoin saw sudden downside at the Wall Street open as stocks witnessed a snap sell-off, reversing post-election gains.
Bitcoin saw sudden downside at the Wall Street open as stocks witnessed a snap sell-off, reversing post-election gains.
Bitcoin (BTC) fell below $76,000 on Thursday as risk assets abruptly reversed their US midterm elections rally.
Data from TradingView showed BTC/USD shedding more than 6% to $75,463 on Bitstamp, its lowest levels since Sept. 16.
“We may be headed for more volatility as investors digest the election results and potential policy implications,” Jordan Watson, a portfolio manager at Tandem Investment Advisors, told CNBC. Watson added that equities gains following the midterm results should not be treated as an “all-clear signal.”