Bitcoin Falls 6% to Seven-Week Low as U.S. Stocks Erase Midterm Gains

Bitcoin fell 6% to a seven-week low as U.S. stocks erased midterm gains. The Nasdaq Composite dropped 4.2% and the S&P 500 lost 2.7%. Nearly $500 million in crypto positions were liquidated in the first hour of U.S. trading, amplifying the selloff.