Cryptocurrency markets suffered steep losses on Thursday as a broad sell-off across Wall Street spilled into digital assets, triggering renewed selling pressure. Bitcoin (CRYPTO:BTC) dropped 5.65% to $75,880.60, while Ethereum (CRYPTO:ETH) tumbled 7.80% to $2,233.79. Solana (CRYPTO:SOL) declined 6.22% to $89.55, as investors retreated from riskier assets and erased much of Wednesday's post-election recovery. Thursday's cryptocurrency sell-off was driven by a sharp deterioration in risk appetite across global financial markets. U.S. technology stocks led Wall Street lower as investors grew increasingly concerned about elevated valuations and the sustainability of massive artificial intelligence infrastructure investments. The Nasdaq (NASDAQINDEX:^IXIC) saw a 5.5% decline which intensified selling across speculative assets, with cryptocurrencies particularly vulnerable to the sudden shift in sentiment. Meanwhile, leveraged trading amplified the downturn. As Bitcoin and other cryptocurrencies declined, liquidations created additional selling pressure, accelerating losses across the market. The reversal was especially striking given Wednesday's brief recovery, illustrating how quickly market momentum can shift when financial conditions tighten and investors reduce exposure to higher-risk assets.
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