Asia Market Open: Bitcoin Slips 3% To $76K As Asian Stocks Track US Tech-Led Selloff
Bitcoin slipped 3% on Wednesday to $76,000 as traders carried a bitter temper into the Asia session after a tech-led sell-off hit US benchmarks and inspired a shift towards extra economically delicate industries.
In early commerce, Japan and Australia opened decrease, and futures pointed to losses in Hong Kong.
Market snapshot
- Bitcoin: $78,719, up 2%
- Ether: $2,334, up 1.8%
- XRP: $1.61, up 0.5%
- Total crypto market cap: $2.72 trillion, up 2.6%
Software Rout Drags US Indexes Lower As Rotation Away From Big Tech Deepens
Overnight, falling software program names pulled down the S&P 500 and the Nasdaq 100, at the same time as most shares within the S&P 500 completed greater and worth shares continued to outpace development in 2026 amid a broader rotation away from the “Magnificent Seven”.
The injury began with authorized software program and information companies. Experian, London Stock Exchange Group and Thomson Reuters tumbled, and the promoting unfold throughout the broader software program sector, sending the iShares Expanded Tech-Software Sector ETF down about 4.5%.
The slide picked up tempo late within the session after Advanced Micro Devices sank in after-hours commerce on a disappointing gross sales forecast. Traders additionally stayed cautious forward of earnings from Alphabet and Amazon later this week, as traders demanded clearer payoffs from expensive AI spending.
Crypto Markets Mirror Global Risk Aversion As Bitcoin Slips
Crypto merchants watched the identical risk-off undercurrent spill into digital property. Bitcoin fell for a second day and prolonged an nearly four-month slide, and investor Michael Burry warned {that a} drop via key thresholds might set off cascading liquidations and wipe out worth.
Tony Severino, market analyst at YouHodler, stated Bitcoin stays locked in a tightening vary, and he pointed to a sign constructing on longer timeframes.
“Bollinger Bands on the month-to-month chart are the tightest they’ve ever been, reflecting an excessive stage of volatility compression,” he stated. “At the identical time, Bitcoin continues to commerce under the month-to-month foundation line, with solely days left earlier than a month-to-month shut that will verify acceptance beneath it.”
Across markets, the shared theme this week appears much less about course and extra about strain constructing below the floor. Currency volatility has risen. The greenback has softened.
Software Stocks Slide As AI Competition Spurs Fresh Investor Jitters
Metals have held excessive ranges with out a clear break, and Bitcoin has stayed caught in one of many tightest volatility regimes in its historical past, circumstances that are inclined to frustrate short-term merchants whereas signalling markets are working off time slightly than pattern, he stated.
On Wall Street, the main focus tightened on software program makers seen as weak to AI-driven competitors after Anthropic rolled out a authorized device for its Claude chatbot. Nvidia and Microsoft every fell nearly 3% because the S&P 500 software program and companies index slid 3.8% for a fifth straight session.
Away from tech, pockets of the market confirmed extra resilience. FedEx prolonged a record-breaking rally, and Walmart pushed previous $1 trillion in market worth. Palantir jumped nearly 7% after robust quarterly outcomes, whereas PepsiCo gained 4.9% after saying value cuts on core manufacturers like Lay’s and Doritos.
In different strikes, oil climbed after the US Navy shot down an Iranian drone heading towards an plane provider within the Arabian Sea.
Federal Reserve officers saved the speed outlook in play. Tom Barkin stated coverage easing has bolstered the roles market as officers flip again to getting inflation to focus on, and Stephen Miran stated the absence of robust value pressures means charges have to be lowered once more this yr.
The put up Asia Market Open: Bitcoin Slips 3% To $76K As Asian Stocks Track US Tech-Led Selloff appeared first on Cryptonews.
