Bitcoin fell below $76,600 on Thursday, its lowest level in roughly eight weeks, as a sharp selloff in technology stocks spread to other risk-sensitive assets and further dampened sentiment across cryptocurrency markets. The Nasdaq 100 slumped, dragged down by semiconductor stocks hit by disappointing earnings guidance and growing worries that Democratic control of Congress could usher in stricter regulation of the artificial intelligence sector. These factors have heightened investor caution toward technology-linked assets, with the unease extending into digital currencies.
At the same time, cryptocurrencies are contending with their own sector-specific challenges, including the fallout from the Binance hack and waning interest from retail traders. The resurgence of volatility in technology shares has compounded these pressures, effectively offsetting the potential tailwind from declining US Treasury yields—an environment that would typically bolster demand for speculative assets.