Bitcoin traded with little overall change as the Asian trading session drew to a close last week, hovering below $82,800 after surrendering gains from a rally that briefly pushed the cryptocurrency close to $85,000 late Wednesday. Weakness in technology stocks following mixed corporate earnings added pressure to market sentiment, while concerns surrounding AI investments resurfaced.
Among major cryptocurrencies, Zcash (ZEC) posted the strongest performance, climbing almost 3% to approximately $1,290. XRP advanced by 1%, while Hyperliquid’s HYPE declined 3% to around $79. Dogecoin dropped 2%, Solana slipped roughly 1%, and BNB, Ether, and TRON recorded smaller losses of less than 1%, according to CoinDesk market data.
Bitcoin’s latest advance proved short-lived. The asset moved above $84,000, a price barrier that had halted previous attempts on October 13 and 14, before reaching a Wednesday peak near $84,800. However, the cryptocurrency reversed course over the following six hours, shedding more than $2,000 and falling toward $82,600.
Attention has now shifted to the $82,500 region, which some market observers consider an important support level. A sustained move below that threshold could expose Bitcoin to a deeper correction, with $70,000 emerging as a potential downside target in more bearish scenarios.
Investors are also examining flows into U.S.-listed spot Bitcoin exchange-traded funds (ETFs) to assess whether demand is strengthening. Bloomberg figures indicate that these investment products attracted approximately $2.3 billion over the last month. BlackRock’s iShares Bitcoin Trust (IBIT) captured the largest share of the incoming capital, highlighting its position among the leading vehicles for institutional and retail exposure to Bitcoin.
Nevertheless, Glassnode analysts have cautioned that stronger fund inflows have not been accompanied by a comparable increase in trading activity. In a recent research note, the firm said sustained inflows alongside rising volume would provide clearer evidence that buying interest is spreading across a wider investor base.
Broader financial markets offered little support. Tesla shares declined 3% in after-hours trading after the electric vehicle manufacturer lowered its capital expenditure outlook. Lam Research, which supplies equipment to semiconductor manufacturers, lost 7% following a disappointing forecast.
Meta Platforms gained 2% after outlining plans to increase spending on artificial intelligence, but the advance failed to offset broader technology-sector concerns. Nasdaq 100 futures dropped 1.1 percent, while futures tracking the S&P 500 slipped 0.5%.
Asian equities also weakened, with the Kospi falling 2.2 percent as SK Hynix and Samsung Electronics shares declined. The CSI 300 dropped 1.7%, moving closer to bear-market territory. Alibaba led losses among Chinese e-commerce companies after authorities called for stricter product quality controls.
The links between the AI industry and the performance of the crypto industry are getting stronger and firms like Circle Internet Group Inc. (NYSE: CRCL) will be tracking how changes in one of these markets affect the other industry.
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