Bitcoin fell 2% to just under $77,000 as of Tuesday Asian morning hours, wiping out Monday’s bounce, as a deepening selloff in U.S. chipmakers dragged down Asian stocks hours before Americans vote in midterm elections.
That puts bitcoin below the roughly $77,600 it dipped to late Sunday, before buyers stepped in for a brief recovery.
ZEC took the worst of it, tumbling nearly 10% to about $1,140, a sharp turn for a token that led the majors on Monday. HYPE fell 5% to about $84, and SOL dropped 3% to about $92. BNB lost 2% and slipped below $700, while ether and DOGE each fell about 2%, with ether just above $2,250. XRP barely moved at $1.25, and TRX was the only major in the green, up about 2%, according to CoinDesk data.
The pain started on Wall Street. A gauge of U.S. chipmakers extended a three-day rout to 12%, and the Nasdaq 100 is now down 10% from its peak. Traders call a drop of that size from a recent high a correction. The S&P 500 slipped 0.5%.
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