Bitcoin experienced a sharp decline, dropping below the $77,000 mark as the tech sector sell-off intensified ahead of the U.S. midterm elections. This downward movement coincided with the Nasdaq 100 entering correction territory, impacting not only U.S. markets but also putting pressure on Asian stock indices.
Altcoins followed the bearish trend:
- Zcash (ZEC) fell nearly 10%, reflecting heightened market volatility.
- Binance Coin (BNB) slipped below $700, further signaling caution among investors.
The ongoing chip sector rout appears to be a significant factor influencing investor sentiment as they brace for political uncertainties ahead of the elections.