Bitcoin Falls to $76K as Liquidations Top $1B

The move matters because it shows Bitcoin is still trading less like a standalone asset and more like a high-beta proxy for speculative risk appetite. When stocks, especially technology shares, come under pressure, crypto often follows — and leverage magnifies the move as stop-losses and margin calls force more selling into a falling market.

Ethereum dropped about 7.5% to $2,251, while Solana slid nearly 8% and XRP and BNB also fell sharply. The crypto market’s total capitalization shrank 4.6% to about $2.66 trillion, wiping out more than $120 billion in a day.

The selloff came alongside a sharp risk-off move in U.S. equities, where the Nasdaq Composite fell 5.52%, its worst day in 19 months, and the Philadelphia Semiconductor Index dropped more than 12%. Nvidia lost more than 9%, and investors dumped companies tied to artificial intelligence infrastructure as they reassessed the sector’s growth outlook and regulatory backdrop.

That matters for investors because crypto has become increasingly tethered to the same trade that drives megacap tech, AI and momentum stocks. Coinbase and Strategy both fell nearly 10%, while bitcoin miners including IREN, CleanSpark and Cipher Mining lost roughly 15% to 16%, showing how the selloff is rippling through the broader digital-asset equity complex.

Technical levels are now in focus. Bitcoin is hovering around a support zone near $75,000 to $76,000, while the 50-day moving average sits well above spot, and the relative strength index has fallen to oversold territory in recent sessions. If that floor gives way, traders say the risk of a deeper reset rises quickly.

The next catalyst is a dense one: about $2.7 billion in Bitcoin options are set to expire, and the U.S. jobs report is due later in the day, a macro release that could reset expectations for Federal Reserve policy and another round of risk-taking. For now, the message from Bitcoin is clear — the market can still rally hard, but with leverage this high, the exit can get crowded just as fast.