#HyperliquidStrategiesHolds38.52MillionHYPE Bitcoin edged up 0.2% to around $76,150 since midnight UTC on Friday, November 6, after bouncing from a dip to around $75,200 near 23:00 UTC on Thursday. Ether gained 0.3% and the CoinDesk 80 Index rose 0.2%. The CoinDesk Memecoin Index led with a 4% gain.
AI-Led Selloff Hits Crypto
The bounce followed a heavy selloff on Thursday, when the Nasdaq Composite fell 5.5%. CoinDesk attributed the drop to investor fears that Democratic control of Congress will slow the buildout of AI data centers. The selling spread to crypto, where more than $1 billion in leveraged positions were liquidated over 24 hours, according to CoinGlass. Over that period, bitcoin fell 5.3% and ether 7.3%.
Bitcoin ETFs also saw outflows on Thursday, according to Farside Investors. Fidelity’s FBTC lost about $200 million and BlackRock’s IBIT lost $105 million, its fifth straight session of outflows.
AI-Led Selloff Hits Crypto
The bounce followed a heavy selloff on Thursday, when the Nasdaq Composite fell 5.5%. CoinDesk attributed the drop to investor fears that Democratic control of Congress will slow the buildout of AI data centers. The selling spread to crypto, where more than $1 billion in leveraged positions were liquidated over 24 hours, according to CoinGlass. Over that period, bitcoin fell 5.3% and ether 7.3%.
Bitcoin ETFs also saw outflows on Thursday, according to Farside Investors. Fidelity’s FBTC lost about $200 million and BlackRock’s IBIT lost $105 million, its fifth straight session of outflows.
