Bitcoin fell below the $77,000 level on November 3 as a deepening sell-off in technology stocks ahead of the U.S. midterm elections spilled into cryptocurrency markets. The semiconductor-tracking index lost 12% over the previous three trading days, while the Nasdaq 100 entered a technical correction after falling 10% from its peak. The risk-off mood also hit Asian equities, with South Korea’s KOSPI dropping more than 3%.
Bitcoin lost roughly 2% and erased all of the previous day’s gains, with the four-hour chart showing a bearish structure and the price testing support near $76,850. At press time, BTC traded around $77,158, down 0.47%, after ranging between $76,850 and $77,685.74. Analysts noted that buyers would need to push Bitcoin back above $80,000 before targeting the $81,500 to $82,000 liquidity zone.
Altcoins suffered sharper losses. Zcash fell about 10% to $1,140, Hyperliquid dropped roughly 5%, and Solana declined 3%. Polymarket put the odds of a Democratic sweep in the U.S. midterm elections at 72%, adding political uncertainty to an already fragile market backdrop. The synchronized pressure across technology stocks and crypto assets has amplified concerns about investor risk appetite.
