The price of Bitcoin briefly dipped below $70,000 Thursday after closing in on a new all-time high earlier in the week.
On Tuesday, the asset nearly beat its March record of $73,737. It then traded sideways before dipping on Thursday.
Over the past 24 hours, the world’s largest crypto fell 2.8% to $70,300. CoinGecko data shows.
Its dip comes as traders sold off equities, with the Nasdaq and S&P 500 having their worst day in a month after top tech companies Meta and Microsoft said they would spend more to meet growing AI demand.
Bitcoin and the broader crypto market have traded closely with tech and large market cap equities this year.
Among the top 10 cryptos, Ethereum has taken the biggest hit, down 5.3% to $2,500. Meanwhile, Dogecoin stood second, dipping 4.4% to $0.16 following a significant rally earlier in the week.
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Author: Mathew Di Salvo
