Bitcoin and Major Tokens Weaken as Nvidia Earnings Lift AI-Linked Assets

Bitcoin has retreated steadily since reaching a high of more than $125,000 in October 2025, while ETF and corporate buying in the crypto market has also weakened. Greg Cipolaro, NYDIG’s global head of research, said AI has become the more favored growth theme and is competing with crypto assets for capital. Technology IPOs, concerns about quantum computing and Strategy’s bitcoin sales have also weighed on demand.

Bitcoin fell below $60,000 on June 5, reaching its lowest level since late 2024. NYDIG said on June 7 that there was no single cause for the decline. The cryptocurrency was quoted at about $59,940 on June 28, down 0.6% over 24 hours and nearly 7% for the week. It could extend its decline into the second quarter, which would mark its first back-to-back quarterly losses since 2022.

Bitcoin and AI chips are both highly volatile risk assets, and shifts in capital allocation often link the two markets. Strategy, formerly MicroStrategy, has long bet its balance sheet on Bitcoin. The company and its co-founder Michael Saylor have become key gauges of institutional crypto exposure and financing risk.

Bitcoin fell as low as $61,400 on June 4, 2026, losing about 7% in 24 hours and 13% over the week. Saylor attributed the decline to capital rotating into AI. Broadcom shares plunged about 15% the same day after the company maintained, but did not raise, its forecast for more than $100 billion in fiscal 2027 AI chip revenue, dragging other chip stocks lower.

Bitcoin is the crypto market’s largest asset and a key gauge of derivatives leverage and risk appetite. When its price falls sharply, automatic position closures on exchanges can intensify selling pressure. Presto Research said Bitcoin pullbacks in 2026 have often coincided with flows into AI stocks and gold, reflecting reduced expectations for U.S. Federal Reserve interest-rate cuts.

During Asian trading on June 4, 2026, Bitcoin briefly fell below $62,000 and breached its 200-week moving average of $61,845. CoinGlass data showed that more than 208,000 traders were liquidated over 24 hours, with long positions losing about $1.5 billion. Worldcoin (WLD) bucked the trend, gaining 33% on the day and nearly 60% over the week, as investors viewed it as a proxy for AI exposure because its co-founder, Sam Altman, leads OpenAI.

Bitcoin and Ether traded in narrow ranges for a fourth consecutive day, signaling a lack of clear direction among major cryptocurrencies and prompting short-term capital to rotate into AI and exchange tokens. The gains did not spread across the broader market: privacy coins gave back ground, while Deribit options trading remained dominated by volatility selling. The moves pointed to concentrated thematic bets and position adjustments rather than a broad revival in risk appetite.

On May 22, 2026, Bitcoin remained confined to a range of $76,100 to $78,000. NEAR gained 28.5% in one day, while FET rose 11.4%. HYPE had climbed about 60% since May 19 and reached a record high. Products from 21Shares and Bitwise were listed on May 12 and May 15, respectively, and had attracted combined net inflows of about $47.8 million as of May 21. Marketwide liquidations over 24 hours fell 26% to $200 million.

Bitcoin has recently returned to elevated levels, driven primarily by continued inflows into U.S. spot bitcoin ETFs and large-scale buying by MicroStrategy. The $75,000 level is both a psychological threshold and a key test of confidence in risk assets and the strength of institutional demand. NVIDIA’s GTC conference has also fueled enthusiasm for AI-related assets.

Bitcoin climbed as high as $74,899 this morning, approaching $75,000, while major crypto assets posted double-digit gains for the week and total market capitalization recovered to $2.56 trillion. After NVIDIA unveiled technologies including DLSS 5 and NemoClaw at GTC, FET surged as much as 20%, while NEAR and Worldcoin rose to their highest levels in recent months. Markets are also awaiting the U.S. Federal Reserve’s latest interest-rate decision.

The Iran war has heightened geopolitical risks and deepened losses in U.S. stocks, prompting investors to adopt more defensive positions. As a volatile asset, Bitcoin has again come under pressure from risk-off sentiment and caution ahead of U.S. inflation data, with $70,000 emerging as a key level for the market.

In the latest trading, Bitcoin briefly fell back to about $69,500 and remained pinned below $70,000, while AI tokens bucked the trend. Internet Computer (ICP) rose more than 8% following its listing on South Korean exchange Upbit, while Fetch.ai (FET) was also buoyed by upbeat comments from Nvidia CEO Jensen Huang.

NVIDIA’s earnings are widely viewed as a barometer for AI and technology stocks. Its better-than-expected performance boosted risk appetite, with capital flowing beyond U.S. equities into crypto assets. Bitcoin again tested the $70,000 threshold, while Ether reclaimed $2,000, underscoring the increasingly close correlation between digital assets and major technology stocks.

U.S. stocks and crypto assets rallied after NVIDIA reported its results. Bitcoin briefly touched $70,000 intraday but failed to hold that level, while Ether climbed above $2,140 before retreating. The sudden rally triggered about $473 million in short liquidations. Shares of Circle and Coinbase also rose sharply, buoyed by earnings performance and business expansion.

Bitcoin and U.S. technology stocks have become increasingly correlated in recent years, with both driven by risk appetite, interest-rate expectations and capital flows. Wall Street's concerns over AI software valuations and growth prospects also triggered selling in crypto assets and mining companies. The $64,000 level is therefore not only a price threshold but also a key gauge of whether capital is returning to high-risk assets.

Bitcoin rebounded from its lows on Tuesday, though the reports did not specify the date, retaking $64,000 and lifting cryptocurrency mining stocks. The latest gains coincided with a narrowing of losses in AI-related software shares, suggesting market anxiety had temporarily eased. The reports did not identify individual miners or financial institutions or provide stock-specific gains; the confirmed key figure is Bitcoin's $64,000 price level.

Bitcoin and Ethereum had fallen for several consecutive days as investors grew concerned about AI stock valuations and the outlook for global risk assets. Cryptocurrencies often move with risk appetite in U.S. technology shares and Asian equities, making Bitcoin's ability to hold above $66,000 an important gauge of whether market confidence is recovering.

In the latest trading, Bitcoin surged above $66,000, while Ethereum returned to around $1,920, driving a rebound across crypto markets and Asian equities. Investors are now focused on NVIDIA's upcoming earnings and guidance for clues on whether momentum in technology stocks can continue and support the outlook for risk assets.