Bitcoin fell below $95,000 on Friday, extending a four-day decline as investors pulled back from artificial intelligence–linked technology stocks. The cryptocurrency slipped to $94,491.22 early in the session, its lowest point since May 7, before recovering part of the drop. By midday, it was trading at $97,163.99, down about 1% on the day and nearly 9% for the week. The pullback followed a brief rebound to more than $107,000 on Tuesday.
The decline coincided with weakness in major technology shares that attract many of the same investors active in digital assets. Concerns over the scale of spending by Silicon Valley companies on AI projects contributed to broader market pressure. The Nasdaq Composite fell about 0.6% on Friday, with Meta, Alphabet, Intel, Nvidia and Tesla down between roughly 1% and 2%.
Crypto-exposed stocks also traded lower. Strategy (formerly Microstrategy) dipped 6%, while Gemini Space Station and Bullish fell around 2%. Coinbase edged down 1%, and Bitmine Immersion Technologies slipped 3%.
Yat Siu, co-founder of Animoca Brands, said the downturn reflected tighter liquidity conditions. He noted that when investors face shortfalls or concerns in other areas, they often reduce exposure across assets. Siu added that this market cycle may diverge from earlier ones due to the growing involvement of institutional investors in digital assets. He said long-time holders often follow the idea of a four-year price cycle marked by corrections, while institutions may see declines as opportunities.
Siu said the expectation that bitcoin might fall to $60,000 based on historical patterns does not account for institutional behavior. He argued that new forms of capital entering the sector could influence how the market responds to current and upcoming headwinds.
Featured image credits: Freepik
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