Yesterday’s Biggest Headlines

Crypto Market Watch

1. Bitcoin dropped 5.65% to $75,880.60 and ether tumbled 7.80% to $2,233.79 on Thursday as Wall Street’s technology selloff spilled into digital assets and wiped out Wednesday’s post-election recovery. The Motley Fool said Solana fell 6.22% to $89.55 and that leveraged liquidations amplified the slide after spot bitcoin ETFs had already booked more than $1.1 billion in net outflows over three prior sessions.

2. Hyperliquid Strategies filed with the CFTC to register as a futures commission merchant so it can carry U.S. client accounts for HIP-3 perpetual futures markets, pending approval. The Block said the Nasdaq-listed HYPE treasury firm also reported $13.3 million in quarterly revenue and $620.6 million in net income, driven largely by unrealized gains on its Hyperliquid token holdings.

3. Google said it will backstop Anthropic’s obligations under a 20-year, $19 billion lease for 401 megawatts at TeraWulf’s Kentucky campus and could take an ownership stake in the project subsidiary if Anthropic defaults. CoinDesk said the arrangement is meant to help finance capacity due to start delivering in late 2027, with Google able to step in as tenant or convert termination payments into equity in Raylan Data.

4. Canary Capital launched the Canary Staked INJ ETF, giving brokerage-account investors exposure to Injective’s INJ token plus potential proof-of-stake rewards. Bitcoin.com said the listing expands Canary’s lineup beyond its XRP and HBAR products as Injective highlighted more than $1 billion in tokenized assets, 3.13 billion transactions processed, and more than 7.27 million INJ burned.

Equity Market Moves

5. The Nasdaq Composite fell 5.52% to 24,315.00 and entered correction territory, the S&P 500 dropped 4.36% to 7,353.73, and the Dow Jones Industrial Average shed 1,833.06 points, or 3.44%, to 51,523.06. CNBC said all three major averages posted their worst day since April 2025 as AI and chip names sold off on fears a Democratic sweep could slow the data-center buildout.

6. Chip stocks were slaughtered as the PHLX Semiconductor Index sank 12%, its worst day since March 2020, while Nvidia alone lost about $450 billion in market value and the broader chip group gave up more than $1.5 trillion. Yahoo Finance said the Dow’s 3.4% drop was its worst second session after a midterm in data back to 1896 as memory names, AI neoclouds, and speculative favorites all sold off with the Nasdaq.

Commodities Watch

7. Spot gold climbed 0.7% to settle at $4,089.12 an ounce on Thursday, while gold futures added 0.6% to $4,097.90, extending Wednesday’s midterms rebound as the Wall Street tech rout kept the dollar subdued. Investing.com said traders also watched soft jobless claims and October layoff data ahead of Friday’s payrolls report.

8. West Texas Intermediate crude rose about 3% on Thursday, bouncing after its worst three-day drop since late 2021, even as the Energy Select Sector SPDR fell 3% and Exxon Mobil and Chevron slipped about 2%. AOL said WTI had fallen about 15% from its Oct. 30 settle above $104 to Wednesday’s settle near $88, the lowest since Aug. 31, before the rebound.

Today’s Watchlist

• Whether bitcoin can defend the mid-$75,000s and ether the low-$2,200s after Thursday’s AI-linked washout

• Digestion of Hyperliquid Strategies’ CFTC FCM filing versus still-pending HIP-3 approval timing

• Follow-through on Google’s TeraWulf/Anthropic backstop and Canary’s staked INJ ETF debut

• Nasdaq’s hold of correction territory if chip guidance and data-center politics keep pressuring AI capex

• Gold’s stay above $4,080–$4,100 and crude’s hold of the post-smash bounce into Friday’s jobs report

edgeX Market Lens

Thursday flipped Wednesday’s midterms relief into a full risk-off session: bitcoin and ether erased the post-election bounce as Nasdaq correction selling and chip wreckage spilled into crypto, while Hyperliquid Strategies moved to register as a CFTC FCM, Google underwrote TeraWulf’s Anthropic lease optionality, and Canary brought staked INJ onto Nasdaq. Equities suffered their worst day since April 2025, with Qualcomm’s soft guide amplifying the AI infrastructure rethink. Soft-dollar gold extended above $4,080 even as oil bounced from Wednesday’s smash without dragging energy stocks along for the ride.

The near-term question is whether Friday’s jobs report restores enough rate clarity to stop the de-risking, or whether Democratic data-center politics and still-elevated December hike odds keep speculative beta capped. Cheaper-to-rebounding crude muddies the inflation path, but the clearer signal is that AI capex and crypto beta are trading as one tape again. If bitcoin holds the mid-$75,000s, ether stabilizes above $2,200, and the Nasdaq stops bleeding through correction support, Thursday can look like a violent position flush. If liquidations re-accelerate, chip guidance keeps missing, or gold’s $4,080 reclaim fails while oil snaps higher on fresh Iran headlines, the post-vote whoosh will mark the start of a deeper reset.

For active traders, access matters when bitcoin and ether gap with the Nasdaq, regulated perp ambitions move through CFTC filings, miner-AI leases rewrite credit support, and gold and oil again diverge from the equity tape. edgeX gives traders self-custodial access to crypto, Bitcoin, tokenized stock, and RWA perpetual markets around the clock.