Bitcoin Drops to $65,000 Amid Sell-Off Pressure in US Tech Stocks

Tech Losses Impact Cryptocurrency Markets A broad sell-off in US equity markets has pushed the price of Bitcoin down to the $65,400 level.
As the S&P 500 and Nasdaq 100 indices lost more than 1% in value, sharp declines particularly in software sector stocks created significant pressure on the cryptocurrency market.
AI Concerns and the Software Sector The iShares Expanded Tech-Software ETF (IGV) fell by 5% to its lowest level in a year, driven by increasing concerns that artificial intelligence could disrupt traditional business models.
This sector, which has lost approximately 35% of its value since October, has shown a high correlation with Bitcoin price movements recently.
Liquidity Pressure on Private Equity Firms The negative market sentiment also affected private equity giants.
Shares of companies such as Blackstone, Ares Management, and Apollo Global Management experienced losses ranging between 6% and 8%.
Analysts suggest that speculation regarding AI potentially triggering a serious credit event in financial markets played a role in these declines.
Bitcoin: Safe Haven or Risk Asset?
Joel Kruger, a market strategist at LMAX Group, stated that in the current environment, Bitcoin is acting more like a speculative "high beta risk asset" rather than "digital gold." It is emphasized that uncertainties regarding global trade tariffs are driving investors away from risky assets, creating a classic "risk-off" environment.