Bitcoin risks worst October in 12 years as tech sell-off spreads to gold

What happened

Bitcoin stayed under pressure below $80,000 at Friday's Wall Street open, trading near $77,000 as a tech sell-off spread to gold. The Nasdaq Composite fell 2.5% to about 25,500, while gold dropped to $3,891 per ounce for the first time since October 2025.

Confirmed

Global impact / market context

Bitcoin falling alongside stocks and gold shows investors are cutting risk across many assets at once, not just moving money between them. For beginners, this means diversification offered little protection, and crypto prices can be pulled down by forces outside the crypto market itself.

Analyst inference

Weak forward guidance from tech giants, including Intel's warning of softer fourth-quarter sales and an almost 30% stock drop, plus JPMorgan's note on AI monetization fears, is driving the rotation. When AI-related profit expectations fall, investors sell crowded winners and raise cash, which pressures speculative assets like bitcoin.

Analyst inference

What to watch

1. Whether bitcoin holds around $77,000 or falls further, since the article says October losses could reach 7.7%, the worst since 2014. A close below recent lows would confirm the sell-off is deepening. Confirmed
2. Watch whether the Nasdaq stabilizes or continues falling toward its lowest levels since early August. A tech rebound could ease pressure on bitcoin, while further declines would likely keep risk assets under strain. Proposed
3. Track gold's move below $3,891 per ounce, because simultaneous drops in gold and bitcoin suggest investors are raising cash rather than seeking safe havens. Sustained gold weakness would point to broader de-risking, which weighs on crypto demand. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• cointelegraph.com