Wall Street Risk Selloff Pushes Bitcoin Below 80,000 Dollars
Bitcoin traded below 80,000 US dollars at the opening of Wall Street as returning artificial intelligence concerns deepened a broader risk-asset selloff. The cryptocurrency struggled to hold around 77,000 US dollars as equity markets dropped sharply across the board.
The Nasdaq Composite Index fell 2.5 percent to 25,500 points, reaching its lowest level since early August. Meanwhile, gold declined to 3,891 US dollars per ounce, marking its lowest price since October 2025. Bitcoin faced a potential monthly decline of 7.7 percent for October, which would mark its steepest drop for the month since 2014 according to CoinGlass data.
Technology Sector Warnings Drive Market Contagion
US stock markets opened lower as traders reacted to weak forecasts from major technology firms. Intel warned markets on Thursday that fourth-quarter revenue would fall short of expectations, sending its share price down nearly 30 percent at the opening bell. The decline weighed heavily on chipmakers and tech giants alike, reviving questions regarding sector valuations and profitability.
The renewed concerns over the monetization of AI are likely to continue the equity rotation today, but the broader indices will reflect the downward movement of the technology industry,
JPMorgan wrote in a note cited by CNBC.
Beyond equities, market contagion spread to precious metals. Trading data showed gold prices touching 3,891 US dollars per ounce, a level not seen in a year. Trading firm QCP Capital noted in a Friday analysis that macroeconomic conditions, technology sector anxieties, and a recent multi-billion dollar security breach at Binance combined to create a period of intense market reassessment.
Binance Hack Complicates Crypto Market Sentiment
Digital asset markets continued to digest the fallout from a 6.3 billion US dollar exploit at Binance. The platform stated it would cover the losses resulting from the theft of coins and tokens using its own internal reserves. A Binance spokesperson told Cointelegraph that the company currently holds over 5 billion US dollars in corresponding token reserves to absorb the impact.
Frequently Asked Questions
What factors triggered the Wall Street risk-asset selloff?
The selloff stemmed from weak fourth-quarter forecasts released by major technology companies, led by Intel warning of lower-than-expected revenue. These warnings renewed investor anxiety regarding the short-term profitability and monetization timeline of artificial intelligence infrastructure.
How much did the Binance exchange lose in the recent hack?
The security breach resulted in the theft of 6.3 billion US dollars worth of coins and tokens. Binance announced it would use internal reserves exceeding 5 billion US dollars to cover the missing funds.
How did precious metals perform during the broader market decline?
Gold dropped to 3,891 US dollars per ounce, hitting its lowest price point in a year as cross-asset contagion spread from equities and cryptocurrencies into safe-haven commodities.
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