Bitcoin gave up its latest attempt to break higher after briefly crossing $84,000 on Wednesday, falling back toward $82,500 as weakness in technology futures weighed on investor confidence.
BTC traded just below $82,800 during Thursday’s Asian morning hours, little changed after retreating from a late-Wednesday peak near $85,000. Mixed earnings updates from Tesla and Meta revived concerns about heavy AI investment, putting pressure on Nasdaq futures.
Among major cryptocurrencies, ZEC climbed nearly 3% to about $1,290, leading the market’s gainers. XRP rose less than 1%, while HYPE dropped 3% to roughly $79. DOGE declined 2% and SOL lost around 1%. Ether, BNB, and TRX each recorded smaller losses of less than 1%, CoinDesk data showed.
Bitcoin Faces Another Test at $82,500
Bitcoin pushed past $84,000 late Wednesday, overcoming a resistance level that had rejected its advances on Oct. 13 and 14. The rally peaked near $84,800 but quickly reversed.
Over the next six hours, BTC fell by more than $2,000, reaching approximately $82,600. The rapid pullback erased much of the breakout and left late buyers exposed to losses.
Bitcoin is now approaching the $82,500 support area. Some analysts warn that a sustained move below this level could trigger further selling and send the price toward $70,000.
AI Spending Concerns Hit Technology Stocks
Tesla shares declined 3% in after-hours trading after the company lowered its capital-spending forecast. Lam Research also suffered a sharp setback, falling 7% following a disappointing outlook.
Meta moved in the opposite direction, gaining 2% after increasing its planned investment in AI. However, the announcement failed to ease broader concerns about the technology sector’s spending plans and future returns.
Nasdaq 100 futures dropped 1.1%, while S&P 500 futures slipped 0.5%, signaling a weaker opening for U.S. equities.
Asian Stocks Fall as Oil Prices Rise
Technology weakness extended into Asian trading. South Korea’s Kospi fell 2.2% as Samsung Electronics and SK Hynix shares retreated. China’s CSI 300 declined 1.7%, bringing it closer to bear-market territory.
Chinese e-commerce stocks also came under pressure, with Alibaba leading the decline after authorities called for stricter quality controls.
Meanwhile, crude oil prices advanced as tensions flared again in the Middle East, adding another source of uncertainty for global markets and keeping pressure on risk-sensitive assets such as Bitcoin.
