Business · Markets · 4 hrs ago
Bitcoin Falls Below $83,000 as Market Risk Fears Return
Bitcoin fell below $83,000 on Thursday, reversing gains from the previous day as investors grew more cautious.
The decline came as technology stock losses and worries about AI spending put pressure on riskier investments.
Rising oil prices linked to tensions in the Middle East also added to concerns about inflation.
US spot Bitcoin ETFs still drew $1.1 billion this week, after investors withdrew money over the previous two weeks.
Bitcoin remains well below its record high of more than $126,000 reached a year ago, and its recovery has lost momentum.
Further losses in stocks could test whether ETF demand holds up, while hawkish signals from the Federal Reserve may also weigh on prices.
Bitcoin fell below $83,000 on Thursday as investors moved away from riskier assets amid concerns about technology earnings and artificial-intelligence spending.
Mint reported the cryptocurrency was around $82,700 at 1 p.m. in Singapore after falling as much as 2.4% in early Asian trading.
CNN Brasil reported Bitcoin was down 3.44% at $81,390.01 at 4:07 p.m. in Brasília.
The decline erased gains from the previous session, when Bitcoin had approached $85,000.
US-listed spot Bitcoin ETFs recorded $1.1 billion in net inflows so far that week, after $909.6 million in outflows over the previous two weeks.
- Who
- Bitcoin and other cryptocurrencies, including Ether, Solana and XRP.
- What
- Bitcoin fell below $83,000 as markets came under pressure. Other named tokens also declined.
- When
- Thursday, October 22, according to CNN Brasil; Mint reported the fall on Thursday in an article published October 23 UTC.
- Where
- In cryptocurrency markets, with prices reported in Singapore and Brasília.
- Why
- Investors were concerned about technology earnings, artificial-intelligence spending and escalating Middle East tensions that pushed oil prices higher.
This story does not have two clearly opposing sides.
US-listed spot Bitcoin ETFs recorded $909.6 million in net outflows.
US-listed spot Bitcoin ETFs recorded $1.1 billion in net inflows.
Meta and Tesla released quarterly results, according to CNN Brasil.
CNN Brasil reported Bitcoin was down 3.44% at $81,390.01 at 4:07 p.m. in Brasília.
- Bitcoin price
- Around $82,700 at 1 p.m. in Singapore, according to Mint
- Bitcoin decline
- As much as 2.4% in early Asian trading
- CNN Brasil price
- $81,390.01 at 4:07 p.m. in Brasília
- ETF net inflows
- $1.1 billion so far that week
- ETF net outflows
- $909.6 million over the previous two weeks
- Bitcoin all-time high
- Above $126,000 a year earlier
3 sources
What people are saying
We expect $85,000 to be retested again in the coming days, though conviction is likely to stay limited
Bitcoin has been incredibly resilient given macro shocks and AI trade unwind