Bitcoin Drops 6% to Seven-Week Low Amid Wall Street Sell-Off

Bitcoin saw a sharp decline at the Wall Street opening, falling more than 6% to the $75,463 level. This move marks the cryptocurrency's lowest point since September 16 and follows the reversal of gains recorded immediately after the United States midterm elections.

The stock market also faced selling pressure as investors reduced their positions in the technology sector. The Nasdaq Composite index posted losses exceeding 4%, hitting its lowest point since late July, while the S&P 500 fell 2.7% during the same period.

Industry data shows that nearly $500 million in positions were liquidated in the first hour of the American session alone. Bitcoin is now approaching the lower limit of its monthly trading range, testing key technical support levels such as the 50-week simple moving average.

Analysts note that volatility is expected to persist while the market processes election results and the implications of new policies. There is concern about how Democratic guidelines might affect the tech sector, impacting spending plans and investments in artificial intelligence.

Meanwhile, oil is attempting a recovery with WTI crude surpassing $90 per barrel. The move reflects geopolitical uncertainties in the Middle East and potential shifts in the handling of regional conflicts following the new makeup of the U.S. Congress.