Bitcoin falls below $76,000 as AI stocks tumble

Bitcoin slips below $76,000 as an AI stock rout hits crypto. Plus: what to know about TraderTraitor, the group behind the Binance hack, and the DOJ’s new AI task force. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SPONSORED BY Thursday, November 5, 2026 Bitcoin, crypto stocks caught in AI trade meltdown, but Wintermute trader sees ‘glass half full’ Bitcoin fell below $76,000 on Thursday as a rout in AI-linked stocks swept through markets, giving back its post-election rally. The Nasdaq sank nearly 6%, on track for its worst day since April 2025’s tariff rollout, and crypto miners, many now pivoting to AI computing, fell 15%–20%. Analysts at FalconX and GSR said the midterm results revived worries that political opposition could slow data center construction. Coinbase, Circle and BitGo dropped 10%–15% and Strategy lost 9.6%. More than $1 billion in leveraged crypto bets were liquidated, mostly bullish ones, the biggest wipeout since Oct. 28–29. Bitcoin was down roughly 5.5% over 24 hours, while ether, Solana, XRP and Hyperliquid fell 6%–7%. Wintermute’s Jasper De Maere said crypto has held up relatively well and he remains upbeat on the medium term. Read more → Finance What is TraderTraitor, the hacking squad behind the $6.3 billion Binance heist? The FBI and analysis firms blame TraderTraitor, North Korea’s elite crypto-theft unit, for the $6.3 billion Binance heist, the largest in crypto history. The group sits inside the broader Lazarus network and has also been linked to the $1.5 billion Bybit theft in 2025 and the $308 million DMM Bitcoin hack in 2024. Its playbook relies on people more than code: fake recruiters and job interviews, malware-laced coding tests, then weeks of patient staging before moving funds. The group launders proceeds partly through over-the-counter traders who convert crypto to cash. Pyongyang denies involvement. The Binance theft roughly doubled the more than $6 billion TRM Labs estimated North Korean hackers had stolen since 2017. 5-minute read → A message from Grayscale Your digital asset holdings could be working harder for you. With in-kind transfers available across 10 Grayscale products, eligible investors can exchange their crypto tokens for shares of the corresponding product — without first selling for cash. Three core features of in-kind investing: Put holdings to work. Shares may be eligible for use as margin or collateral. Where listed options are available, they may also help hedge exposure or generate income. Bring investments together. Incorporate crypto exposure into portfolio management and estate planning, including beneficiary designations. Simplify safekeeping. 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Tax treatment is uncertain and may trigger taxable events, particularly when contributing assets other than the ETP’s underlying crypto. Foreside Fund Services, LLC is the Marketing Agent and Grayscale Investments Sponsors, LLC is the sponsor of the ETPs. Policy U.S. Justice Department assembles force to shield against foreign AI threats The Justice Department has formed a Super Intelligence Task Force, using the Trump administration’s preferred term for AI, to complement the existing SI Force led by Jay Clayton. Attorney General Todd Blanche said it will help keep the technology from being manipulated by bad actors at home or abroad, including state-sponsored actors, transnational criminal groups and individuals or companies committing fraud. The department also plans to check that businesses using AI maintain strong internal controls. The move comes as the administration’s AI focus grows while its active crypto policy work has waned: the White House office that helped shepherd crypto legislation is vacant. 1-minute read → Know someone who should be reading this? Share this newsletter See all of CoinDesk’s newsletters    CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York,NY,10011,USA, Unsubscribe Manage Preferences   Copyright © 2026 CoinDesk, All rights reserved.