Bitcoin Falls 5.5% as U.S. Stocks Suffer Sharp Sell-Off

Bitcoin (BTC) fell 5.5% to $76,036 on Nov. 5 as U.S. stocks sold off, extending losses across risk assets while markets weighed potential policy shifts after Democrats won both chambers in the midterm elections.

The S&P 500 dropped 4.36%, its largest one-day decline since April 2025. The Nasdaq Composite fell 5.52% and stood about 11.9% below its record high, putting it in correction territory.

Democratic control could create political obstacles for the administration’s trade agenda and AI infrastructure plans over the next two years. Democrats may seek to end Trump’s global tariff policy and increase Congress’ role in trade, while data center projects could face slower permitting, higher grid connection and usage costs, and fewer tax incentives.

Democrats do not hold the two-thirds majority needed to override a presidential veto, leaving those policy changes uncertain.