Bitcoin drops 6% to $75,700 as Wall Street selloff triggers $1.03B in crypto liquidations

The significance here is correlation, not the drawdown itself: crypto gave back its post-election gains in step with a Nasdaq selloff, reinforcing that digital assets are still trading as a high-beta risk proxy rather than an independent store of value. The $1.03 billion liquidation figure matters because forced selling can amplify moves beyond what the equity trigger alone would justify, hitting leveraged traders hardest. Whether crypto keeps tracking equity risk sentiment, or decouples once the liquidation cascade clears, is the open question worth watching.