Was the Democratic victory the culprit behind the collapse of the Nasdaq, US stocks, and Bitcoin? Bitcoin was weaker than I expected; I thought it would rebound to 85K before falling. As a result, the US tech sector crashed, dragging Bitcoin down with it. The AI bubble was already showing signs of cracking. Then, after the Democrats swept both houses of Congress, they began to dismantle the AI narrative in the US stock market → data center construction faces political resistance → who will buy chips? This accelerated the bursting of the AI bubble and the sharp decline in chip stocks. On November 5th, the entire US AI hardware supply chain collapsed. The Nasdaq plunged 5.35%, and the Philadelphia Semiconductor Index plummeted 10.14%. Nvidia fell about 10%, Micron fell 15%, and SanDisk fell about 20%. This is just the beginning of a breakdown. The 30-day rolling correlation coefficient between Bitcoin and the Nasdaq 100 is in the 0.6-0.69 range, which is historically high. With the Nasdaq and US tech stocks plummeting, BTC can't escape unscathed. A drop to 70K for BTC is not impossible. A head and shoulders reversal pattern is forming on the daily chart. What a disappointing market! The Democratic victory and control of both houses of Congress, restricting the construction of AI data centers, is merely a catalyst or trigger for the Nasdaq and tech stock crash. A Nasdaq and US tech stock crash around March 2027 is not a far-fetched fantasy! It's not impossible that Bitcoin will be dragged down with it. Let's be cautious, save our resources, and wait for the US stock market crash in 2027 to buy the dip.