The measured market move
The Associated Press reported that the Nasdaq Composite lost 1,421.52 points to close at 24,315.00, a 5.5% decline. The S&P 500 fell 4.4% and the Dow Jones Industrial Average 3.4%. The S&P's worst daily drop since April 2025 more than reversed the previous day's rally. Nasdaq's own historical index page also lists a 24,315 close. Intraday readings from earlier in the session should not be reported as final closing figures.
Bloomberg reported Bitcoin around $75,737 during the wider selloff. That was a price observed at a point in a continuously traded market, not a daily close comparable with a U.S. equity index. A New York Stock Exchange market note also recorded Bitcoin moving below $80,000. Exact 24-hour percentage changes vary with the venue, trading pair and timestamp selected; those choices matter when comparing crypto with stocks.
The pressure on AI-linked shares
The equity decline was led by businesses tied to AI infrastructure, according to AP's market reporting. Nvidia fell 9.3%, AMD 17.3% and CoreWeave 9.8%. Their business exposures are not identical, so the declines should not be presented as proof of one company-specific trigger. Large technology stocks also carry enough index weight to turn a sector selloff into a broad market event.
Investors were weighing the high cost of financing data-center construction and the possibility of new project restrictions after the U.S. midterm elections. Those were concerns about what might happen, not confirmation of a nationwide moratorium or a newly enacted rule. Democratic wins and comments from individual politicians cannot, on their own, quantify how much of the Nasdaq decline was caused by expectations of AI regulation.
Bitcoin's move does not prove the cause
Bitcoin's decline alongside technology shares is consistent with investors reducing exposure to riskier assets. It does not demonstrate a direct transmission from data-center policy concerns to BTC selling. Crypto trades around the clock across multiple venues, whereas U.S. index returns reflect a defined cash-market session. Comparing percentages drawn from different windows can make a correlation look stronger or weaker than it is.
Claims that trillions of dollars 'vanished' also need careful framing. A fall in total equity market value is a mark-to-market repricing, not a count of dollars actually withdrawn by investors. The same applies to a decline in crypto market capitalization: it is not interchangeable with liquidations or cash outflows. Without a consistent calculation and reliable data source, a dramatic aggregate figure is a poor substitute for the verified index and trade prices.
What remains uncertain
Trader forecasts about support levels, divergences or an imminent rebound are opinions, not outcomes established by the November 5 session. A single day cannot show whether Bitcoin is structurally more resilient than equities, either. Such a comparison would require matched time periods, volatility measures and evidence that the relationship persists beyond one event.
For now, the defensible finding is a sharp U.S. equity close and a documented intraday BTC slide. Later sessions may reveal whether pressure on AI-linked shares and crypto prices continues together. Attributing the move to election results, capital spending worries or forced crypto sales requires additional evidence; simultaneous price charts do not supply it by themselves.
