---
title: "Bitcoin Erases Election Rally as AI Stocks Plunge, $428 Million in Crypto Longs Get Wiped Out"
url: https://thecoingazette.com/bitcoin-erases-election-rally-as-ai-stocks-plunge-428-million-in-crypto-longs-get-wiped-out/
date: 2026-11-05
modified: 2026-11-05
lang: en
author: "Coin Gazette Editorial"
description: "Bitcoin plunged nearly 5% as AI stocks sank, Democratic midterm wins raised fresh policy questions, and forced liquidations erased a Wednesday rally that had been fueled partly by short covering."
categories:
  - "Crypto News"
tags:
  - "crypto"
  - "cryptocurrencies"
  - "Defi"
  - "Market Trends"
  - "News"
word_count: 30
---

# Bitcoin Erases Election Rally as AI Stocks Plunge, $428 Million in Crypto Longs Get Wiped Out

Bitcoin plunged nearly 5% as AI stocks sank, Democratic midterm wins raised fresh policy questions, and forced liquidations erased a Wednesday rally that had been fueled partly by short covering.