Bitcoin risks worst October in 12 years as tech sell-off spreads to gold
Summary
Bitcoin fell 1.1% to around $77,000, its lowest level since Sept. 18, as renewed concerns about AI-sector profitability drove a wider risk-asset sell-off. The Nasdaq dropped 2.5% after weak tech-company guidance, while Intel shares fell nearly 30%. Crypto markets also remained under pressure following a reported $6.3 billion Binance hack; Binance said it would cover losses and had $5 billion in matching tokens available. QCP Capital cited macroeconomic concerns, tech fears and the hack as drivers of market repricing. Bitcoin was on track to finish October down 7.7%, its weakest October since 2014.
