Bitcoin erases post-election gains as Wall Street selloff triggers over $1 billion in crypto liquidations

Key points

• Bitcoin erased its recent post-election gains after dropping 6% to around $75,700, alongside a 7% decline in Ether.
• The downturn coincided with a broader selloff on Wall Street, particularly across the tech-heavy Nasdaq index.
• The sharp market contraction triggered approximately $1.03 billion in total cryptocurrency liquidations across leveraged trading positions within a single day.

Summarized automatically by Kryptokite from reporting by The Block. Read the original sources for full detail.