Bitcoin remained below $80,000 as a sharp decline in US technology stocks spread across other risk assets, including gold. BTC traded near $77,000 during Friday’s Wall Street open, putting it on course for its weakest October performance since 2014, while markets continued to absorb the impact of a multibillion-dollar hack involving Binance.
Tech stocks lead broader market retreat
Bitcoin fell 1.1% on the day, according to TradingView data cited in the original reporting by Cointelegraph, after touching its lowest level since Sept. 18. The decline came as US equities opened sharply lower following disappointing forward guidance from major technology companies.
Intel shares fell by nearly 30% at Friday’s open after the chipmaker warned on Thursday that fourth-quarter sales would be weaker than markets had expected. The pressure extended beyond Intel, affecting technology companies and chipmakers as investors reassessed the outlook for artificial-intelligence businesses.
The Nasdaq Composite Index was down 2.5% at around 25,500, its lowest level since Aug. 3. JPMorgan said in a note quoted by CNBC that renewed concerns about AI monetization could prolong rotation away from equities linked to the technology sector.
The market weakness was not limited to stocks or cryptocurrencies. Gold fell as low as $3,891 per ounce, its lowest price since October 2025. The simultaneous declines in Bitcoin, technology shares and gold showed the breadth of the risk-asset retreat described in the report.
Binance hack adds pressure to crypto markets
Crypto investors were also dealing with the aftermath of a multibillion-dollar theft from Binance, described as the largest cryptocurrency exchange. Binance said it would cover the losses from its own capital after $6.3 billion worth of coins and tokens were stolen.
A Binance spokesperson told Cointelegraph that the exchange had $5 billion in matching tokens available. The incident added a crypto-specific source of uncertainty to pressure already coming from weaker stock markets and concerns about technology-sector spending.
Trading firm QCP Capital described the combination of macroeconomic conditions, technology fears and the Binance hack as a period of heightened market repricing. It said guidance from technology companies on future capital expenditure would remain important for assessing investment in AI infrastructure and the sector’s expected profitability.
Bitcoin tracks steep monthly loss
At approximately $77,000, Bitcoin was on course to finish October 7.7% lower, based on CoinGlass data cited by Cointelegraph. That would represent its worst October since 2014.
Moneyiar market data recorded Bitcoin at $77,759.60 at 12:38 p.m. on Nov. 1, 2026, with a 0.27% gain over 24 hours but a 3.2% decline over seven days. Moneyiar also recorded Ark at $0.1678 at 12:39 p.m., down 1.49% over 24 hours and 5.36% over seven days. These figures reflect the market picture at those stated times and do not change the October performance reported above.
The episode underlines how Bitcoin can move alongside traditional risk assets during periods of broad market stress, while crypto-specific events can add another layer of volatility.
