Bitcoin Weathers Tech Stock Rout as ETF Investors Pull Back
AI spending concerns caused the Nasdaq's worst session since June and a steep one-day Treasury yield decline. Bitcoin slipped to about $80,790 midday, then recovered in Asian trading and ended roughly flat, while U.S. spot Bitcoin ETFs had $635.6 million in net outflows. The report also noted Brent's highest close since May after tanker damage near Hormuz, a16z removing 'crypto' from a fund name, and Robinhood obtaining a Dubai license for retail Bitcoin services.
The equity selloff was led by Meta and chipmakers: Meta dropped 6.98% after unveiling non-voting Class C shares and lifting capital-spending plans to $135–$145 billion, while AMD, Micron and Nvidia fell 8.1%, 6.26% and 4.4%. The Nasdaq closed at 26,008.86, down 2.6%; the S&P 500 lost 1.21%, and the Dow was roughly unchanged.
Bitcoin touched $80,790 at 12:50 p.m. ET, then rebounded during Asian hours to $81,616 by 8:00 a.m. ET Friday, a $41 decline. U.S. spot Bitcoin ETFs recorded $635.6 million in net withdrawals, halting three days of inflows. Brent settled at its highest level since May after tanker damage near Hormuz; a16z removed “crypto” from a fund name, and Robinhood secured a Dubai retail Bitcoin license.
The split performance may reassure some Bitcoin holders that crypto can withstand equity-market stress, while ETF withdrawals could signal caution among institutional investors. Retail users may gain broader access as platforms secure new licenses, but households with market exposure could still feel knock-on effects from tech-stock swings and bond-yield moves. Because crypto remains volatile, its wider social impact may depend on how quickly ordinary users adopt safeguards and how platforms manage risk.