Bitcoin plunges below $66,000 as global stocks, AI trades hit fresh records
Key takeaways
- Ether (ETH) broke below $1,900 to $1,839, marking a 7.9% drop in 24 hours and lifting the second-largest cryptocurrency's weekly decline to 11.1%.
- BTC traded near $66,280 by Wednesday morning after touching the $65,708 24-hour low, with the range stretching $5,200 from the $70,907 high.
- The MSCI All Country World Index set a fresh all-time high on the AI rally that has dominated stocks all year.
Gox wallet transfer.Traders are watching bitcoin’s $65,000 level as key technical support, with a break lower potentially targeting $60,000 and a hold possibly setting up a short-term rebound.The crypto sell-off is worsening as stock markets continue to inch higher every day.
Bitcoin BTC$66,490.98 plunged to a low of $65,708 in Asian morning trading on Wednesday, down 6.4% in 24 hours and 12.3% on the week, as a broad crypto market sell-off accelerated overnight against the sharpest possible backdrop of global equity strength.
Ether (ETH) broke below $1,900 to $1,839, marking a 7.9% drop in 24 hours and lifting the second-largest cryptocurrency's weekly decline to 11.1%. Solana's SOL fell 9.0% to $73.25, BNB lost 7.8% to $636, DOGE$0.09231 slid 8.3% to $0.0921 and Tron's TRX shed 3.4% to $0.3297, per CoinDesk data.