Bitcoin slid below the $71,000 mark in Asian hours Thursday as a renewed selloff in global technology stocks spilled into crypto markets, undercutting hopes of a sustained rebound after last week\u2019s volatility.<\/p>\n
The world\u2019s largest cryptocurrency fell as much as 7.5% over the past 24 hours, touching lows near $70,700 before paring some losses, according to CoinDesk data.<\/p>\n
The move followed sharp declines in Asian equities, where mounting concern over artificial intelligence spending, stretched valuations and slowing earnings momentum pushed investors further away from risk assets.<\/p>\n
MSCI\u2019s Asia tech index fell for a fifth time in six sessions, led by steep losses in South Korea\u2019s Kospi, which dropped around 4% as heavyweight AI-linked stocks came under pressure.<\/p>\n
The weakness followed a slide in the Nasdaq during U.S. trading, where disappointing earnings from firms such as Alphabet, Qualcomm and Arm reinforced fears that AI investment may be peaking faster than expected.<\/p>\n
Bitcoin has increasingly traded as a high-beta risk asset during equity-led drawdowns, particularly when liquidity is thin and macro uncertainty rises.<\/p>\n
The latest drop comes after bitcoin briefly whipsawed earlier this week, falling toward $73,000 before rebounding above $76,000 in a move some traders said was a sign of fragile conviction rather than a clean trend reversal.
“Bitcoin\u2019s move below the low-$70,000s has accelerated a broader deleveraging, flushing out crowded positioning built during the post-ETF rally,” Wenny Cai, COO at Synfutures, said in a Telegram message. “Liquidations have been heavy, sentiment has swung risk-off, and price action is now being driven more by balance-sheet mechanics than narrative flow.”<\/p>\n
“This doesn\u2019t signal the end of institutional participation, but it does mark the end of complacency,” Cai added.<\/p>\n
Pressure was compounded by sharp moves in commodities. Silver plunged as much as 17% and gold fell over 3%, extending a brutal unwind that has already triggered heavy liquidations in tokenized metals products on crypto venues.<\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoin slid below the $71,000 mark in Asian hours Thursday as a renewed selloff in global technology stocks…\n","protected":false},"author":2,"featured_media":275316,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[345,343,344,21887,951,142476,142475,85,46,125],"class_list":["post-275315","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-asian-equities","tag-bitcoin","tag-earnings-momentum","tag-global-technology-stocks","tag-il","tag-israel","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/275315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=275315"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/275315\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/275316"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=275315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=275315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=275315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}