Bitcoin fell back below 67000 during US trading hours on Thursday, reversing much of the previous day’s rally as broader risk assets came under pressure. The pullback followed a strong midweek advance that briefly pushed the largest cryptocurrency close to the 70000 level before momentum faded.
At the time of writing, bitcoin was trading near 67700 earlier in the session before sliding under 67000, marking a decline of more than 4 percent from Wednesday’s intraday high. Ether and Solana recorded comparable percentage losses, reflecting a broad based retreat across major digital assets.
The weakness in crypto coincided with a nearly 2 percent drop in the Nasdaq Composite, led by a post earnings selloff in Nvidia. Although Nvidia’s financial results did not significantly miss expectations, investors appeared to lock in profits after a sustained run higher into the earnings release. Shares of Nvidia fell sharply, dragging down other semiconductor names and adding to overall market volatility.
The sell the news reaction in technology stocks weighed on sentiment across risk markets. Bitcoin has shown periodic correlation with high growth equity sectors, particularly during episodes of macro driven repricing. As technology valuations adjust, crypto assets often respond in tandem, especially when leverage is elevated.
Interestingly, software equities traded higher on the day even as chipmakers declined. The divergence highlighted shifting investor preferences within the tech complex. However, bitcoin did not benefit from the relative strength in software shares, underscoring the fluid nature of cross market correlations.
Crypto related equities also reflected the cautious tone. Shares of major exchange operators and digital asset firms declined modestly, tracking the drop in underlying token prices. The move reinforced the sensitivity of publicly listed crypto companies to short term fluctuations in bitcoin and broader market risk appetite.
One notable exception was Circle Financial, the issuer behind a major dollar backed stablecoin. The stock extended gains following its recent earnings report, bringing its two day rally to roughly 40 percent. The advance suggests investor interest in stablecoin infrastructure and transaction based revenue models even during periods of spot market volatility.
From a technical perspective, bitcoin remains within the trading range that has defined price action through much of February. Previous attempts to break higher have struggled to sustain momentum, while downside moves have found buyers near established support zones. The rapid giveback of Wednesday’s gains highlights the presence of active sellers at higher levels.
Macro conditions continue to influence short term direction. Equity market swings, earnings reactions, and shifting expectations around monetary policy all feed into crypto market liquidity. As long as digital assets remain closely linked to broader risk sentiment, sudden moves in technology stocks are likely to ripple through bitcoin and altcoin markets alike.
