Bitcoin fell back toward $81,000 on Thursday as a sharp selloff in technology stocks pushed investors toward U.S. government bonds and defensive shares. The move came amid renewed concerns over artificial-intelligence valuations, higher oil prices linked to Middle East tensions and rising borrowing costs in France.
Bitcoin and crypto markets under pressure
Bitcoin was trading at about $81,400 late in the session, down 3.6% over 24 hours, after recovering roughly $600 from its intraday low. Earlier, the cryptocurrency had dropped below $82,000 and traded near $81,100, while ether and XRP each lost more than 5% at one point. The bitcoin-yen pair fell about 3%, a larger decline than bitcoin-dollar markets, as the Japanese currency strengthened.
The latest move followed a volatile round trip. Bitcoin climbed close to $85,000 late Wednesday before retreating toward $81,800, a swing of roughly $3,000 in less than a day. According to CoinDesk, about $431 million in crypto positions were liquidated over 24 hours. Short sellers accounted for around $173 million of the liquidations during bitcoin’s rise, while bullish positions represented $210 million of the $222 million liquidated during the subsequent decline.
The pressure extended beyond bitcoin. HYPE, DOGE and SOL declined, while ether slipped below $2,400. Monero moved against the broader trend, gaining 11% to about $650 in the source update.
Technology shares fall as investors reassess AI demand
U.S. equities weakened as investors reacted to losses in major technology and semiconductor names. The Nasdaq Composite closed 2.6% lower, while the S&P 500 declined 1.2%. The Dow Jones Industrial Average finished roughly flat as money moved toward defensive sectors, including health care and consumer staples. Johnson & Johnson, Walmart, McDonald’s and Procter & Gamble were among the Dow companies reporting strong gains during the session.
Lam Research added to concerns about the technology outlook. Although the chipmaking-equipment company exceeded fiscal first-quarter estimates, it warned that supply-chain bottlenecks could restrict revenue in the following quarter. Its shares fell sharply, with the source material reporting declines of 8% to 10% during different stages of trading.
The market reaction also revived debate over whether spending on artificial intelligence has become excessive. Blackstone President Jon Gray rejected the idea that the sector is simply building capacity ahead of uncertain demand. He said demand for Ode, an AI consulting company formed by Blackstone and Anthropic, was close to “parabolic” and that the business could not keep up with customers. OpenAI was separately reported by CNBC to be nearing a $30 billion funding round at a $1.25 trillion valuation, led by investors from the United Arab Emirates and Coatue. The company, led by Sam Altman, has reportedly delayed plans for an initial public offering until 2027.
Bonds rally as rate-hike expectations fade
The stock selloff was accompanied by a strong move into U.S. government debt. Treasury yields fell by roughly 15 to 20 basis points across maturities. The 10-year yield briefly moved below 5% for the first time in a month, reaching about 4.945% in one update, while the two-year yield declined to around 4.64%.
Market pricing for Federal Reserve interest-rate increases changed significantly. The probability assigned to an October rate hike fell close to zero, while the odds of no further increases during 2026 rose to 28% from 10%. Earlier estimates showed the probability of a hike at the next meeting falling to 8% from 16% a day earlier. Investors also began reducing expectations for a December increase, despite comments from several Fed officials that another hike could be necessary.
The bond rally occurred even as oil prices rose more than 3%. The source material linked the oil move to renewed Middle East hostilities and reported comments from U.S. President Donald Trump accusing Iran of trying to raise oil prices ahead of the U.S. midterm elections. Traders appeared to be reassessing the previous relationship between oil and interest rates, considering whether an energy shock could weaken demand and have a deflationary effect rather than simply increase inflation.
Europe’s bond-market concerns add to risk aversion
Investors were also watching France’s deteriorating borrowing conditions. France’s 10-year government yield reached 5.126%, its highest level since 2002, while the 30-year yield reached 5.550%. The spread between French and German 10-year debt widened to a 15-year high, with one update placing it at 177 basis points. Political instability, public-finance concerns and inflationary pressures associated with the Iran conflict were cited in the source material as factors behind the move.
The U.S. labor market offered a more stable signal. Initial jobless claims fell to 194,000 from 200,000, below the 200,000 forecast, while the four-week moving average declined to 197,750. Even so, investors focused more heavily on falling equities, geopolitical risks and bond-market flows.
Moneyiar market picture
Moneyiar data at 23:04 Tehran time on October 22, 2026, showed Bitcoin at $81,260.48, down 3.68% over 24 hours and 1.19% over seven days. At 23:03, Ontology was $0.052123, down 4.35% in 24 hours and 2.06% over seven days; WINkLink was $0.0000604647, up 2.25% and 8.92%, respectively; and Ore was $122.77, down 3.60% over 24 hours but up 1.58% over seven days.
