Tech stocks dragged it down. The Nasdaq Composite fell 5.5% and the S&P 500 lost 4.3% on Thursday, November 5, and bitcoin dropped more than 5.3% over 24 hours to below $76,000, erasing Wednesday's post-election rebound, CoinDesk reported at 4:53 a.m. Eastern Friday. Analysts at FalconX and GSR tied the selloff to worries that the Democratic sweep of Congress could slow the buildout of AI data centers, and IG's Axel Rudolph described crypto as "dragged into the AI rout as investors rapidly unwind risk across technology and crypto markets," The Block reported. CoinGlass counted $1.26 billion of liquidations in 24 hours, $1.12 billion of them longs. Simon-Peter Massabni of XS.com said asset managers "liquidate alternative holdings to meet margin calls and deleverage portfolios." Bitcoin bounced from about $75,200 near 23:00 UTC Thursday to about $76,150 by CoinDesk's 6:49 a.m. Eastern update. The positioning beneath that bounce looks cautious: open interest edged up to $22.1 billion from $21.8 billion, funding briefly went negative on Bybit, and one-week put skew steepened to about 15% from 11% a week earlier. A cluster of long liquidations sits between $74,000 and $75,000 on Binance's heatmap, with $76,800 to $77,000 the level overhead.