Bitcoin crashes 6% to 7-week low as US stocks erase election gains

Bitcoin experienced a sudden and significant 6% drop at the opening of Wall Street, pushing its price to a seven-week low. This sharp decline in Bitcoin's value was observed concurrently with a broader market movement in US stocks, which saw a rapid sell-off. The stock market's downturn effectively reversed all gains that had been made since the recent elections, indicating a potential correlation or influence of traditional financial markets on Bitcoin's performance during this period.