Nasdaq Plunges $2.3 Trillion as Bitcoin Drops to $75,000
Bitcoin fell to approximately $75,000, shedding more than $5,000 in a single day as a massive sell-off on Wall Street rippled through global digital asset markets, according to Paybis. The 6% drop over a 24-hour window followed Thursday, November 5, which Yahoo Finance and CoinDesk reported as the worst single day for U.S. equities since April 2025.
The tech-heavy Nasdaq 100 lost $2.3 trillion in market capitalization during the session. Meanwhile, the S&P 500 dropped 4.4%, the Dow Jones Industrial Average fell by more than 1,800 points, and the benchmark semiconductor manufacturing index declined 12%. Analysts pointed to the U.S. midterm elections as a primary catalyst, with investors growing concerned that a newly elected Congress might slow the pace of artificial intelligence data center construction. Those worries prompted heavy liquidations in the AI and semiconductor stocks that had driven market gains throughout the year.
Forced Liquidations Deepen Crypto Market Declines
The equity market sell-off immediately dragged digital assets lower, with borrowed-money positions amplifying the downward momentum. Many traders had borrowed funds to bet on upward price movement, but falling prices triggered automatic liquidations across digital asset exchanges.
Each forced sale pushed prices lower, resulting in more than $1 billion in borrowed-money bets being liquidated within 24 hours, according to CoinGlass data reported by CoinDesk. Market sentiment shifted rapidly alongside the price drops. The Crypto Fear & Greed Index fell from 50, representing a neutral stance on Thursday, to 28, indicating fear on Friday, according to metrics from alternative.me.
Frequently Asked Questions About the Market Drop
What caused the sharp decline in U.S. stock markets on November 5?
U.S. equities experienced their worst trading day since April 2025, driven by investor concerns surrounding the U.S. midterm elections and potential legislative delays for artificial intelligence data center projects.
How much capital did the Nasdaq 100 lose during the session?
The Nasdaq 100 index lost $2.3 trillion in total market capitalization during the single-day sell-off on November 5.
How much was liquidated in the cryptocurrency market?
Traders saw more than $1 billion in borrowed-money positions forcefully liquidated across exchanges within a 24-hour period, according to CoinGlass data cited by CoinDesk.
Where did the Crypto Fear & Greed Index move after the drop?
The index shifted from a neutral score of 50 on Thursday, November 5, down to 28, indicating a fearful market sentiment on Friday, November 6, according to alternative.me data.
Worth a look