Bitcoin Falls Below $70,000. Why This Crypto Crisis Is Getting Scary.

Bitcoin fell below $70,000 early Thursday to a 15-month low as the selloff in tech stocks spilled into digital assets, piling pressure on cryptocurrencies.

The price of Bitcoin

BTCUSD

-8.07%

fell t0 $66,911, down 9.6% over the past 24 hours to its lowest level since Nov.6, 2024, according to Dow Jones Market Data.

Ethereum

ETHUSD

-6.80%

tumbled 9.8% to $1,939, while popular altcoin XRP

XRPUSD

-16.23%

slumped 17%, according to CoinDesk data.

The moves follow sharp falls in U.S. equity markets, as heavyweight stocks linked to artificial intelligence have come under pressure.

The Nasdaq Composite index dropped 1.5% Wednesday and was down 1.7% early Thursday as earnings Alphabet and Qualcomm ensured investors remained nervous about the impact of AI on the stock market.

Those concerns appeared to spill over into digital assets, which have already had a poor start to the year.

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