FORTUNE · 2026-11-09 17:43 UTC

Bitcoin holds near $75,000 after tech stock rout, altcoins suffer steeper losses

Bitcoin has fallen about 1% in 24 hours and trades near $75,000, holding up better than altcoins such as Ether (down nearly 5% on the day) and XRP (down nearly 12% over the week). Pressures cited include a $6.3 billion hack at Binance, a Democratic takeover of Congress that hurt crypto-backed candidates, a Nasdaq drop of over 5% last week, and expected Fed rate-hike talk ahead of Tuesday's inflation report. Analysts say much bad news is already priced in and that Bitcoin's June low marks the bottom, while expecting Bitcoin to gain share of the crypto market over smaller tokens.

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