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"Bitcoin retreats towards $76,000 as tech selloff exposes fragile recovery

Crypto markets surrendered their post-election gains as heavy selling in US technology and AI stocks spread to digital assets. The reversal highlights a market still sensitive to global risk appetite, with leveraged trading amplifying price swings.

Bitcoin, near $75,984, was down 5.88% over 24 hours, while Ether traded around $2,234, declining 8.10%. Total cryptocurrency market capitalisation fell 5.02% to $2.55 trillion. The Fear and Greed Index registered 32, indicating fear, while the 

CoinMarketCap 20 Index dropped 5.8%.

The US equity snapshot shows the Nasdaq falling 5.52%, the S&P 500 declining 4.36%, and the Dow losing 3.44%. The VIX surged 69.66% to 28.18, reflecting a sharp increase in expected equity-market volatility.

This simultaneous decline suggests investors were reducing exposure across risk assets. Concerns about AI infrastructure spending and the implications of the US election results weighed on technology shares, with crypto caught in the same price retreat. Reports also identified short covering as a contributor to the previous session's rally, suggesting that part of the rebound depended on traders closing bearish positions.

For retail investors, the implication is that crypto-specific optimism may struggle to sustain a recovery while broader financial markets remain under pressure. 

Liquidations accelerated the decline

Nearly $1.1 billion were liquidated in crypto over 24 hours, affecting approximately 211,000 traders. Within a four-hour window, $818.90 million of the $879.92 million liquidated consisted of long positions, approximately 93%.

This concentration shows that traders positioned for further gains were particularly exposed. As prices fell, exchanges forcibly closed leveraged positions, adding selling pressure and potentially triggering further liquidations.

Net ETF outflows were of $915.1 million over the last week and approximately $2.49 billion over the last month, against $5.29 billion in net inflows over the last quarter."