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KuCoin Daily Market Watch: U.S. Elections Impact Crypto and Tech Markets
KuCoin's daily market watch shows the Nasdaq and S&P 500 indices plummeting after the post-election rally. BTC and ETH experienced significant drops, with BTC at $76,087.90 (-5.49%) and ETH at $2,238.01 (-7.70%). The market was affected by concerns over AI regulation and investment returns. Hedge fund Walleye Capital plans to scale back its equity long/short business, potentially intensifying the sell-off. The AI trade saw SanDisk, Micron, Western Digital, and Nvidia experiencing significant drops.