Bitcoin Rebounds as AI Stocks Sell Off
Bitcoin recovered above $81,000 on Thursday after briefly falling below $80,000, despite a sharp sell-off in US technology shares. The Nasdaq dropped 1.5% as investors retreated from companies linked to artificial intelligence spending. Alphabet fell 12% after disappointing results, while ServiceNow slid 23% after missing forecasts.
Treasury yields also eased: the 10-year yield fell seven basis points to 4.98%, and the two-year yield dropped 7.5 basis points to 4.66%. The implied probability of a December rate hike fell below 80%, after nearing 90% the previous day.
Bitcoin’s rebound diverged from the equity downturn, suggesting some investors may have shifted capital towards crypto during market stress. US spot Bitcoin ETFs recorded three straight days of inflows totalling about $424 million; Tuesday’s inflow was $176 million, with BlackRock’s IBIT leading. The move offers a potentially supportive signal for Bitcoin, though the article does not establish a lasting safe-haven trend.
Bullish
The near-term signal is mildly bullish for Bitcoin: it recovered above $81,000 during a technology-stock sell-off, while spot Bitcoin ETFs recorded three consecutive days of inflows totalling about $424 million. Falling Treasury yields and reduced expectations of a December rate hike may also ease pressure on risk assets by lowering the prospect of tighter financial conditions.
However, the evidence for a durable shift into Bitcoin as a safe haven remains limited. The article reports a rebound and ETF flows, but does not confirm that investors broadly rotated out of equities into crypto. Bitcoin can still trade as a risk-sensitive asset, and renewed rate-hike concerns, rising yields or continued equity-market stress could trigger volatility and renewed selling. Similar episodes of macroeconomic uncertainty have produced brief Bitcoin rebounds that later faded when liquidity expectations worsened. Traders may therefore view the price recovery and ETF inflows as supportive short-term indicators, while monitoring rate expectations, ETF flow data and whether Bitcoin can hold above $80,000. The report alone does not establish a long-term bullish trend.