Following the Democrats’ victory in the US midterm elections, which secured control of both the House of Representatives and the Senate, markets experienced sharp declines.
At this point, a sharp sell-off occurred in US technology stocks. US President Donald Trump blamed the Democrats for the sharp decline in US stock markets and said that the sell-off, which followed the Democrats gaining control of both houses of Congress in the midterm elections, had also shrunk Americans’ 401(k) retirement accounts.
As Trump intensified his attacks against the Democrats, this decline in the stock markets also affected Bitcoin, which fell to levels around $75,000.
This decline in Bitcoin and stock markets has also brought about a remarkable development in terms of the performance of BTC and Nasdaq. While technology stocks experienced heavy losses, Bitcoin’s more limited decline in value created a rare scenario in market history.
Losses on Nasdaq Outpace Bitcoin!
In the US, selling pressure, particularly targeting AI and chip companies, caused significant declines in technology-heavy indices. The Nasdaq Composite Index closed the day down 5.5%, while the Nasdaq 100 Index fell 6.3%.
Bitcoin was also affected by selling pressure, falling 5% during the day. However, Bitcoin’s loss was less than the decline in the Nasdaq 100.
Seen Only Second Time in History!
As Bitcoin fell along with US stock markets, macroeconomic analyst Alex Krüger also commented on the situation in a post on his X account.
In his post, Krüger noted that it has only been second in history for Bitcoin to experience a more limited loss on a day when the Nasdaq fell by more than 5%.
According to the analyst’s comparison, the first example occurred on March 16, 2020. On that day, QQQ, which tracks the Nasdaq 100, fell by 12 percent, while Bitcoin dropped by 10.6 percent. On November 5, 2026, QQQ fell by 6.4 percent, while Bitcoin’s decline remained at 5.3 percent. Thus, for only the second time in history, Bitcoin’s single-day loss was limited compared to technology stocks.
*This is not investment advice.
Continue Reading: According to an analyst, Bitcoin challenged Wall Street! Only a second time in history!