Bitcoin briefly slid below $80,000 for the first time in a month as risk assets retreated amid broader market volatility. An AI-led selloff on Wall Street, triggered by slowing revenue growth at Anthropic, undercut crypto's bullish momentum. The largest digital asset weakened as US stocks opened lower, with the Nasdaq 100 dropping up to 1.8%.
Treasury yields fell as investors sought safety in bonds, while data showed stronger retail sales and producer-price increases. Crypto markets are being pulled between bullish analyst sentiment and a defensive turn across speculative markets. Jeff Anderson, head of US at STS Digital, warned that upcoming inflation data will hurt risk appetite as markets enter the Fed blackout period with rate expectations on a knife's edge.
The original digital asset slumped as much as 2.4% to $79,720, the lowest level since Sept. 18, before paring losses as stocks swung between gains and losses. Traders view the dip as a warning sign of a broader directional downturn, backing away from previous $100,000 price targets. On the Derive.xyz platform, the probability of Bitcoin reaching $100,000 by Christmas fell 2.8 percentage points to 9.7% over the past 24 hours, signaling a dramatic regime shift with institutional participants rapidly reassessing macro risk exposure amid murky interest rate paths.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing