Bitcoin fell below its pre-election trading level as technology stocks tumbled, according to Tyler Warner’s November 6, 2026 edition of Decrypt’s Morning Minute. The newsletter reported roughly $1.1 billion in liquidated crypto long positions—a reminder that an election-driven narrative offers little protection against a broad market reversal.
The source was published at 21:29:20 UTC+08:00 on November 6, 2026. The figures and forthcoming events below reflect that historical reporting window, not current market conditions. Warner’s analysis and opinions were his own, as Decrypt noted.
One election result, two market reactions
Warner described a sharp reversal between Wednesday and Thursday. On Wednesday, stocks recorded their best day in three months and Bitcoin climbed above $80,800. Donald Trump celebrated the market on Truth Social, saying it had “just hit another Record High,” with 401(k)s “through the roof.”
Thursday brought a different reading:
- The S&P 500 fell 4.36%, its worst session since the April 2025 “Liberation Day” tariffs.
- The Nasdaq dropped 5.52%, closing more than 10% below its record from the previous month.
- The Dow lost 1,833 points.
- The iShares Semiconductor ETF fell more than 12%, its worst day since March 2020.
Micron lost 17.5%, AMD 17.3%, Marvell 16.4% and Nvidia 9.3%. The Magnificent Seven shed roughly $1 trillion in market value, while the broader U.S. stock market lost $3 trillion by the close. The VIX touched 28.09 intraday, its highest since March.
The AI explanation was an interpretation, not a settled cause
The newsletter linked the reversal to concerns that Democratic election wins could mean slower data-center permitting and tighter oversight of AI infrastructure. It noted active local opposition to data-center construction in several states where Democrats won.
“We suspect there is going to be some scrutiny on this aggressive AI buildout,” Swissquote’s Ipek Ozkardeskaya said.
That was the explanation offered in the report—not proof that one political development accounted for every part of the selloff. Warner himself questioned how confidently markets could interpret the same election result in opposite ways across two sessions.
Crypto followed stocks down
Bitcoin fell 5.4% to $75,871, below its pre-election level. Ethereum dropped 7.6% to $2,239, XRP lost 9.8%, and Hyperliquid fell 4.9%. The CMC20 index declined 6.29%.
The newsletter reported roughly $1.1 billion in long liquidations before a slight overnight relief rally. Bitcoin ETFs also recorded $430 million in net outflows on Thursday, while Ethereum ETFs saw $100 million in outflows.
Privacy coins resisted—but did not escape—the decline
Zcash fell 0.8% and Monero 2.2%, smaller losses than the broad market, and both remained positive for the week. Over the preceding year, the newsletter put Zcash’s gain at 146% and Monero’s at 74%, against declines of 26% for Bitcoin and 34% for Ethereum.
Warner characterized that performance as evidence of a resilient privacy trade. The narrower observation is relative strength during the reported selloff; both assets still declined that day.
Political scrutiny remained prospective
Separately, the newsletter reported that Representative Robert Garcia, expected to chair House Oversight under the new Democratic majority, said the committee would investigate the Trump family’s business dealings, including crypto ventures. World Liberty Financial was described as a likely early target, with inquiries possibly beginning in February.
Those were stated plans and expectations—not findings of wrongdoing. At publication, Friday’s October jobs report was also still ahead.
Original article: Decrypt, Morning Minute: Bitcoin Erases Election Rally as AI Stocks Crater