Bitcoin Slides Toward $76K as Tech Rout Erases Post-Election Gains

A technology sector selloff triggered a $428 million wave of liquidations across crypto markets, while Samsung integrated stablecoin transfers for 82 million US smartphone users.

1. Bitcoin Drops Below $77K Amid Broader Tech Market Selloff $BTC fell to approximately $76,500, prompting $428 million in long liquidations in a single hour. The slide coincided with a 4% drop in the Nasdaq and an 8% decline in the Philadelphia Semiconductor Index.

2. Samsung Wallet Integrates Solana USDC for 82 Million US Devices Samsung activated $SOL-based $USDC support on Nov. 5, relying on Bastion and Coinbase Prime Vault. The integration enables stablecoin transfers without managing private keys, excluding New York residents.

3. CFTC Faces Nov. 6 Deadline Over Retail Equity Perpetual Futures A federal judge directed the CFTC to defend its oversight of equity perpetuals by Nov. 6. The mandate follows a lawsuit from traditional exchange groups alleging the regulator encroached on SEC jurisdiction.

4. Former Lead Sues Ethereum Foundation and Vitalik Buterin Former Protocol Support lead Kayleen Fulton sued Stiftung Ethereum and Vitalik Buterin, alleging wrongful termination. According to the lawsuit, Fulton was fired after organizing opposition to an employee mandate.

5. House Democrats Draft Market Structure Bill to Expand SEC Oversight Lawmakers are drafting legislation to expand SEC jurisdiction over crypto markets following the collapse of the CLARITY Act. The proposal includes ethics rules restricting digital asset activities for federal officials.

Numbers Bitcoin fell 5.2% to $76,047, while Ethereum dropped 7.4% to $2,237 as total market capitalization contracted to $2.56 trillion.

Watch

• The CFTC's opposition filing on Nov. 6 regarding equity perpetual futures.
• The October jobs report and the Federal Reserve's December interest rate decision.
• Samsung's deployment timeline for in-store point-of-sale stablecoin checkout.