Bitcoin risks worst October in 12 years as tech sell-off spreads to gold
Bitcoin circled $77,000 as crypto markets navigated US stock-market downside, while the gold price fell to its lowest in a year.
Bitcoin (BTC) stayed under pressure below $80,000 at Friday’s Wall Street open as AI fears returned to intensify a broader risk-asset rout.
Key points:
- Bitcoin struggled to hold around $77,000 as risk assets fell across the board at the US open.
- The Nasdaq Composite Index fell to 25,500, its lowest levels since early August, while gold dropped to $3,891 per ounce for the first time since October 2025.
- BTC/USD risked sealing October losses or 7.7%, the most since 2014.
Data from TradingView showed BTC/USD down 1.1% on the day after dropping to its lowest levels since Sept. 18.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
US stock markets opened sharply lower as traders reacted to weak forward guidance from tech giants. Intel, which on Thursday warned of weaker Q4 sales than markets had anticipated, saw its stock price drop by nearly 30% on Friday’s open.
The sell-off weighed on both tech giants and chipmakers, with analysis warning of fresh challenges to AI-sector confidence.
“With renewed fears over AI Monetization, the Equity rotation is likely to continue today but the broader indices will reflect Tech’s downside,” JPMorgan wrote in a note, quoted by CNBC.
The tech-heavy Nasdaq Composite Index was 2.5% lower at the time of writing at around 25,500, a level last seen on Aug. 3.
Beyond stocks, contagion spread to precious metals, with gold trading as low as $3,891 per ounce, its weakest in a year.
XAU/USD one-week chart. Source: Cointelegraph/TradingView
Crypto markets continued to deal with the aftermath of a multi-billion dollar hack of Binance, the largest crypto exchange.