Bitcoin News | Bitcoin Slips Below $77,000 as the Nasdaq 100 Enters a Correction on Election Day; ZEC Drops Nearly 10%

Bitcoin fell 2% to just under $77,000 in Tuesday’s Asian morning hours, erasing Monday’s bounce, as a deepening sell-off in US chip stocks weighed on Asian markets hours before Americans vote in the midterm elections. The drop takes bitcoin below the roughly $77,600 it reached late Sunday.ZEC Leads LossesZEC fell hardest, dropping nearly 10% to about $1,140, a day after it led the majors, according to CoinDesk data. HYPE fell 5% to about $84 and SOL 3% to about $92. BNB lost 2% and slipped below $700, while ether and DOGE each fell about 2%, with ether just above $2,250. XRP was little changed at $1.25, and TRX was the only major to rise, up about 2%.Nasdaq 100 Enters a CorrectionThe sell-off began on Wall Street. An index of US chipmakers extended its three-day decline to 12%, and the Nasdaq 100 is now 10% below its peak, the threshold traders use to define a correction. The S&P 500 slipped 0.5%.In Asia, South Korea’s Kospi fell more than 3% and the MSCI Asia Pacific Index dropped almost 1%, while Japanese markets were closed for a holiday. Chinese stocks fell even after the People’s Bank of China said it would encourage financial institutions to make more use of its stock-market support tools. The yuan ended a 13-day winning streak, its longest since 1996 according to CoinDesk, after the central bank asked banks to hold more foreign currency in reserve. Oil fell sharply.Midterm Results Due in Asian HoursAmericans vote on Tuesday, and the first results will arrive as Asian markets open on Wednesday. Separately, Binance said early Tuesday that its hourly deposits now exceed withdrawals.