The price of Bitcoin (BTC) and other cryptocurrencies are stabilizing following a big selloff in technology stocks.
Growing worries about the artificial intelligence (A.I.) trade sent the technology-laden Nasdaq Composite index down nearly 700 points or 2.60% on Oct. 22.
The steep drop in tech stocks pressured other risk assets such as crypto, with Bitcoin’s price falling about 3% in a 24-hour period to trade at $81,500 U.S.
Cryptocurrencies trade around the clock: 24 hours a day, seven days a week.
In early trading on Oct. 23, prices for digital assets appear to be stabilizing and are up slightly from the previous session.
Bitcoin is trading at $81,650 U.S., having gained a slight 0.35% overnight. Ethereum (ETH) is changing hands at $2,400 U.S., basically flat in overnight trading.
Technology stocks have been sinking over concerns of a bubble forming in companies associated with the A.I. infrastructure buildout.
This has led to downward pressure on other risk assets such as cryptocurrencies. Bitcoin is now down about 5% for the month of October.
The decline in recent weeks comes after Bitcoin’s price rose more than 40% in the third quarter of the year and rallied as high as $86,000 U.S.
The current slump is somewhat surprising as October is typically the best month of the year for cryptocurrencies. Bitcoin hit a record high of $126,000 U.S. in October 2025.
Many analysts expect digital assets to remain under pressure as the market continues to assess the risks of an A.I. bubble, as well as government bond yields and crude oil prices.
Oil prices have risen sharply in recent days as tensions in the Middle East worsen, with Brent crude, the international standard, now trading near $115 U.S. per barrel.
