Bitcoin is approaching its poorest October showing in 12 years as worries about artificial-intelligence investments spark a wider sell-off in global markets.
On Friday, October 30, the cryptocurrency traded near $77,000, staying below $80,000 while investors trimmed risk-heavy positions. TradingView data show Bitcoin slipped 1.1% that day after hitting its lowest point since September 18.
The pressure extended beyond digital assets, also weighing on U.S. tech shares and precious metals, suggesting investor anxiety is spilling over into other sectors.
U.S. Tech Stocks Drop as AI Concerns Grow
U.S. equity markets opened sharply lower after major tech firms issued disappointing forward guidance.
The Nasdaq Composite fell 2.5% to about 25,500, its lowest since August 3. Semiconductor shares saw heavy selling, with Intel sliding nearly 30% at the open after warning of weaker-than-expected fourth-quarter sales.
Market unease has risen over the profitability of AI projects and the anticipated returns from expanding infrastructure spending.
JPMorgan warned that renewed doubts about AI monetization could push investors further away from tech stocks, potentially dragging down broader indexes.
Gold Prices Slip to Year-Low
The sell-off was not confined to equities and crypto. Gold dropped to $3,891 per ounce, its lowest level since October 2025.
The concurrent declines in Bitcoin, tech equities and gold underscore the broad pressure across financial markets as participants reassess exposure amid economic and sector-specific uncertainty.
Bitcoin Set for Its Worst October Since 2014
Bitcoin's monthly results have also been hit by security worries after a multi-billion-dollar hack at Binance, the world's largest crypto exchange.
Binance said it would cover the loss with its own capital after about $6.3 billion in coins and tokens were stolen. A Binance spokesperson added that the platform had $5 billion in matching tokens ready.
Crypto trading firm QCP Capital cautioned that macro uncertainty, tech-sector worries and the Binance breach have sparked a period of heightened market repricing.
The firm noted that tech companies' earnings outlook and future capex will stay key to the AI infrastructure investment outlook.
At roughly $77,000, Bitcoin is on track to end October with a 7.7% decline, marking its weakest October performance since 2014, according to CoinGlass data.
