Bitcoin (BTC) plunged more than 6% to $75,463 on Bitstamp, its lowest level since September 16. The drop occurred at the Wall Street open amid a sharp sell-off in risk assets following the US midterm elections. The Nasdaq Composite lost 4.2% and the S&P 500 fell 2.7%, erasing gains made after the Democratic sweep in the House of Representatives and Senate. BTC/USD briefly moved below its 50-week simple moving average at $75,733, putting that support level under pressure. Meanwhile, crypto liquidations reached nearly $850 million over 24 hours, while Brent crude approached $97 per barrel amid tensions in the Middle East.
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