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BTC fell as much as 4.8% to around $60,033 during late U.S. hours, before snapping back to as high as $65,926.
Shares fell after both companies reported quarterly revenue below Wall Street expectations as Bitcoin dropped sharply.
Bitcoin plummeted to a low of around $60,000 after the Crypto Fear & Greed Index hit its lowest score since mid-2022, when the Terra blockchain collapsed.
QCP's Darius Sit says October's deleveraging event exposed the real divide: bitcoin trades like collateral, altcoins trade like a bet on exchange governance
A single-day 14% drop and a drawdown of more than 50% have pushed Bitcoin into territory typically associated with bear markets.
Analysts said repeated failures to hold key support levels have pushed market sentiment firmly into a risk-off stance.
Traders were active in BlackRock’s iShares Bitcoin Trust ETF on Thursday as Bitcoin plummeted, falling 12% in the last 24 hours.
OpenAI and Anthropic released new flagship AI models within hours of each other on Thursday, with benchmark results suggesting they're optimized for different strengths.
Bitcoin is down more than 40% from its October highs, but investors in spot Bitcoin ETFs have pulled 6.6% of assets.
Strategy executives Phong Le and Andrew Kang say the company is on a strong financial footing despite it now being down 17.5% on its Bitcoin holdings.
Bitcoin posted one of its single-largest intraday drops on Thursday, falling from roughly $73,100 at open to a low near $62,400.