Bitcoin breaks below $71,000 as AI tech rout drags down crypto markets
Bitcoin fell below $71,000 Thursday, hitting $70,129—its lowest since November 2024—as tech stocks slumped and nearly $770 million in crypto positions were liquidated in 24 hours. The broader crypto market lost almost $500 billion in a week, with bitcoin down 20% over that period. Thin liquidity and leveraged bets worsened the drop. Traders watched Alphabet’s capital spending and chipmaker AMD’s 17% plunge.