Bitcoin is heading towards its worst October performance in 12 years as growing concerns over artificial intelligence (AI) investments trigger a broader sell-off across global financial markets.
Bitcoin (BTC) was trading near $77,000 on Friday, October 30, remaining below the $80,000 mark as investors reduced exposure to riskier assets. The cryptocurrency fell 1.1% during the day after touching its lowest level since September 18, according to TradingView data.
The ongoing market pressure also affected US technology stocks and precious metals, indicating that investor concerns are spreading beyond the cryptocurrency market.
US Tech Stocks Extend Losses Amid AI Concerns
US stock markets opened sharply lower as investors reacted to disappointing forward guidance from major technology companies.
The Nasdaq Composite Index dropped 2.5% to around 25,500, its lowest level since August 3. Semiconductor stocks also faced significant selling pressure, with Intel shares falling nearly 30% at Friday’s market open after the company warned of weaker-than-expected fourth-quarter sales.
Market concerns have intensified over the profitability of artificial intelligence investments and the expected returns from growing infrastructure spending.
JPMorgan noted that renewed concerns about AI monetization could extend the rotation away from technology stocks, potentially weighing on broader market indices.
Gold Price Falls to Lowest Level in a Year
The sell-off was not limited to equities and cryptocurrencies. Gold also experienced significant losses, with prices falling to $3,891 per ounce, their weakest level since October 2025.
The simultaneous decline in Bitcoin, technology stocks, and gold highlights the broader pressure across financial markets as investors reassess their exposure amid economic and sector-specific uncertainties.
Bitcoin Faces Worst October Performance Since 2014
Bitcoin’s monthly performance has also been affected by security concerns following a multi-billion-dollar hack involving Binance, the world’s largest cryptocurrency exchange.
The exchange said it would cover the losses using its own capital following the theft of approximately $6.3 billion in coins and tokens. A Binance spokesperson told that the platform had $5 billion in matching tokens available.
Crypto trading firm QCP Capital warned that macroeconomic uncertainty, technology-sector concerns, and the Binance incident had created a period of heightened market repricing.
The firm also highlighted that technology companies’ earnings guidance and future capital expenditure would remain important factors in determining the outlook for artificial intelligence infrastructure investment.
At around $77,000, Bitcoin was on track to close October with a 7.7% decline, marking its weakest October performance since 2014, according to CoinGlass data.
