Live updates: Bitcoin under $66,000 as traders await Alphabet earnings to gauge AI trade
Bitcoin prices are hovering under $66,000 as investors await Alphabet's earnings report to gauge the sustainability of AI-related market growth. Tech stocks are experiencing volatility as traders question whether massive capital spending on AI will yield sufficient returns.
Why it matters
The correlation between Bitcoin and AI-linked tech stocks highlights how macroeconomic sentiment and speculative investment in AI are currently driving broader market trends.
The pause matches the broader market, where a two-day rebound in chip stocks stalled as traders waited on Alphabet's results after the U.S. close.
Nasdaq 100 futures fell 0.8% and South Korea's Kospi trimmed strong early gains, with tech lagging in Europe too.
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