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Bitcoin Holds Near $81,400 as Wall Street's Tech Selloff Weighs on Crypto
Bitcoin finished the U.S. trading day down about 3.6% over 24 hours as the Nasdaq fell 2.6% on renewed doubts about AI spending.
Crypto spent Thursday moving in step with a sharp slide in technology stocks.
Where prices stand
As U.S. markets closed, bitcoin was at about $81,400, down 3.6% over 24 hours, CoinDesk reported at 4:08 p.m. ET. That was roughly $600 above its low of the session. Earlier, at 2:01 p.m. ET, CoinDesk had bitcoin near its low at about $81,100, with ether and XRP each down more than 5%.
What drove it
The pressure started overnight. CoinDesk reported that mixed quarterly results from Tesla and Meta revived doubts about how much big companies are spending on artificial intelligence, pulling down stocks in Asia before the U.S. open. Altcoins fell harder than bitcoin, and a CoinDesk index of decentralized-finance tokens dropped 5.6% in the morning.
By the close, the Nasdaq had lost 2.6% and the S&P 500 1.2%, while the Dow ended flat as money moved into defensive sectors like health care and consumer staples. Crypto-linked shares were hit early in the session. CoinDesk reported that shortly after the open, Strategy was down 5.6%, Circle 4.6%, MARA Holdings 4.2% and Coinbase 4%.
Why it matters for crypto
Thursday showed again how closely bitcoin can trade with tech stocks when investors pull back from risk. Even so, CoinDesk noted in the morning that options markets were calm, with implied-volatility gauges for bitcoin and ether sitting just above their 2026 lows. Traders will be watching whether that calm holds if the tech selloff continues.
Sources: CoinDesk · CoinDesk (markets)
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