Bitcoin Tumbles Back Near Last Week’s Lows as AI Fears Crush Tech and Precious Metals Plunge

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Editor’s Note

Bitcoin and other major cryptocurrencies have pulled back sharply, tracking a broader sell-off in technology stocks. The retreat underscores the continued correlation between crypto and traditional equity markets during periods of risk aversion.

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Bitcoin Retreats Amid Broader Market Sell-off

Bitcoin (BTC) has retreated to last week’s lows, nearly erasing all its recent gains above $70,000, and continues to slide alongside a broader tech sector downturn, currently trading back around $65,000.

Over the past 24 hours, Bitcoin has fallen by 2%, with Ethereum (ETH) and Solana (SOL) experiencing similar declines.

This drop mirrors the overall trend in the Nasdaq, which fell 2% on Wednesday, particularly within the software sector where the iShares Expanded Tech-Software Sector ETF (IGV) plunged 3%.

“Software stocks are weak again today. IGV is basically back to the lows from last week’s panic,” wrote macro strategist Jim Bianco.
Bianco added, “Don’t forget there is another type of software – ‘programmable money,’ i.e., crypto. It’s essentially the same thing.”
Precious Metals Also Hit Hard

Despite holding modest gains for most of the day, gold and silver experienced a rapid and sharp sell-off in the mid-afternoon. By the close, silver was down 10.3% to $75.08 per ounce, and gold fell 3.1% to $4,938.

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⏰ Published on: February 12, 2026