Bitcoin Gives Back Post-Election Gains; Crypto Longs Face ~$428M Liquidations in One Hour

According to TechFlow, on November 6, Decrypt reported that Bitcoin gave back its post-U.S. election rebound gains, falling to around $76,500, a decline of nearly 5%; approximately $428 million in crypto long positions were liquidated within one hour.

Ethereum fell more than 5% over the same period. The report noted that selling in technology stocks spilled over into the crypto market, as investors worried about AI spending, interest rates, and the post-election policy outlook. Previously, when Bitcoin broke above $80,000, approximately $378 million in short positions were liquidated within one hour.

Source: TechFlow