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Bitcoin Continues to Fall After Brief Rally Following US Midterm Elections
Bitcoin continued its decline after a brief recovery following the US midterm elections. The overall value of the cryptocurrency market also decreased by about 6%. The main reason for the decline was a significant deterioration in sentiment on the US stock market. Investors started to exit risky assets, including technology stocks, which led to additional pressure on cryptocurrencies. The article also mentions a drop of over 7% for Ethereum. The market experienced a drop alongside a massive decline in US technology stocks. Companies related to Bitcoin mining and infrastructure for artificial intelligence saw significant drops. Bitdeer and Keel Infrastructure lost over 20%, while American Bitcoin dropped about 17%. Coinbase and Strategy saw a drop of around 10%. Bitcoin, which had received positive expectations after the elections, failed to maintain its growth.