Bitcoin was trading near $70,000, a level last reached in November 2024. It subsequently slipped below the threshold early Thursday as a tech-stock selloff spilled into digital assets, weighing on cryptocurrencies.
The move underscores renewed pressure on the crypto market as risk appetite wanes and investors rotate out of tech shares. Broader market weakness has kept a lid on prices and heightened volatility.
Analysts say the development reflects macro-driven volatility rather than a fundamental shift in Bitcoin’s longer-term story. While the near-term action may stay volatile, bulls note that fundamentals remain supportive over the longer horizon.
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