On Thursday, U.S. technology and artificial intelligence (AI) stocks sold off, while cryptocurrency liquidations exceeded $1 billion in 24 hours, as Bitcoin and other cryptocurrencies gave back their post-election gains. Bitcoin fell 6% to $75,700, while Ether dropped more than 7% to $2,247. Nearly 211,000 traders were liquidated over the past 24 hours, with total liquidations nearing $1.1 billion. Wintermute said Wednesday’s rally may have reflected temporary optimism rather than strengthening market fundamentals. Wincent Senior Director Paul Howard said Democrats had strengthened their position in Congress, which could mean bipartisan cooperation will be needed to advance meaningful cryptocurrency legislation over the next two years.