Bitcoin tumbled as much as 6% early Friday, hitting an intraday low of $80,548—its weakest level since April 11—before recovering to trade around $85,104.38 (down 1.5%), according to Coin Metrics. The cryptocurrency is down roughly 10% since the start of the week and about 24% over the last month as mounting pressure in U.S. equities, including a 2% drop in the Nasdaq, has prompted a rotation out of volatile AI-linked and crypto positions into safe havens such as gold. The move tests a critical $80,000 support level and highlights how correlated flows between AI stocks and bitcoin can amplify downside when equity sentiment turns risk-off.
Bitcoin tumbled as much as 6% early Friday, hitting an intraday low of $80,548 at about 7:30 a.m. ET — its weakest level since April 11 — before recovering to trade around $85,104.38 per Coin Metrics. The cryptocurrency is down roughly 10% since the start of the week and about 24% over the last month, underscoring a sharp recent drawdown from its post-inauguration rally and the record high just north of $126,000 in early October. The token's slide follows mounting pressure in the U.S. stock market; the Nasdaq Composite fell 2% on Thursday as the Nvidia-led rally lost momentum, prompting rotation out of volatile AI-linked and crypto positions into safe havens such as gold. The article notes investors who hold AI names often also hold bitcoin, creating correlated flows that can amplify downside when equity sentiment turns risk-off. Technically, the $80,000 level is a critical support test — a sustained break would likely accelerate outflows, while holding that level would leave room for choppy, range-bound trading. Key indicators to watch are equity sentiment (especially Nvidia/AI earnings momentum), fund flows into gold, and whether bitcoin can maintain levels above the mid-$80,000s to signal stabilization.
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Overall Sentiment
moderately negative
Sentiment Score
-0.60
Ticker Sentiment
