THE STREET · 2026-11-05 17:21 UTC

Bitcoin, stocks crash as markets erase post-election rally

U.S. stocks and Bitcoin surged Wednesday after Democrats won midterms, with Dow up 3% and BTC up 5.7% to $80,500, but the rally reversed the next day. On Nov. 5, Nasdaq fell 4% into correction territory, S&P 500 dropped 3%, and Dow fell 2% as investors reassessed AI spending and data center scrutiny. Bitcoin dropped 5% toward $76,000, crypto market cap fell $137.6 billion to $2.53 trillion, and $878 million in leveraged positions were liquidated.

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