Bitcoin Price Crashes Over 5% to $75,000 as Tech Rout Wipes Out Leveraged Longs

Bitcoin price fell from above $80,800 to near $76,600 on Thursday morning as a Nasdaq selloff in chip and AI stocks spilled into crypto. Bitcoin price fell about 5% on Thursday morning, sliding from above $80,800 to near $76,000 as a sharp selloff in technology stocks spread into crypto and wiped out leveraged traders betting on further gains, Bitcoin Magazine Pro data shows. The drop erased the rebound that had carried bitcoin back above $80,000 overnight. It touched a low near $76,100 shortly after the U.S. stock market opened, its weakest level since the start of the week.

Source: Bitcoin Magazine