Bitcoin was little changed at just under $82,800 in Thursday’s Asian morning trading hours after giving back a late-Wednesday surge that nearly reached $85,000. Disappointing results from Tesla and Meta weighed on Nasdaq futures and revived doubts about the artificial intelligence trade.
Among major cryptocurrencies, ZEC was the only standout gainer, rising nearly 3% to about $1,290, while XRP added less than 1%. HYPE was the laggard, down about 3% to roughly $79, DOGE fell 2%, and SOL lost about 1%. Ether, BNB and TRX slipped less than 1%, according to CoinDesk data.
The breakout did not last. Bitcoin cleared $84,000, a ceiling that had turned it back on Oct. 13 and 14, and topped out near $84,800 late Wednesday. Within about six hours, it had dropped more than $2,000 to around $82,600, a sharp reversal for anyone who chased the move.
That left bitcoin trading near $82,500, a level some market watchers warn could open the door to a slide toward $70,000 if it breaks for good.
Big Tech did not help. Tesla fell 3% after hours after cutting its capital-spending forecast, and chip-equipment maker Lam Research dropped 7% on a weak outlook.
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