Bitcoin tumbles back near last week's lows as AI fears crush tech and precious metals plunge
Analysis
Price Impact
HighBitcoin experienced a significant tumble, falling back towards $65,000 and erasing most recent gains above $70,000. this mirrors a broader sell-off in the tech sector, particularly software stocks, and a plunge in precious metals, indicating a strong correlation.
Trustworthiness
HighThe information is sourced from coindesk, a reputable crypto news platform, and includes analysis from macro strategist jim bianco and ark invest's cathie wood, adding credibility.
Price Direction
BearishBitcoin's price movement is currently bearish due to its strong correlation with the struggling tech sector, particularly software stocks (nasdaq down 2%, igv down 3%). the simultaneous plunge in gold and silver further emphasizes a risk-off sentiment. however, a contrasting long-term bullish view from cathie wood suggests bitcoin could thrive as a hedge against future 'deflationary chaos' caused by ai and innovation.
Time Effect
ShortThe news focuses on immediate price movements and recent losses (back near last week's lows, down 2% over 24 hours). while there's a long-term outlook from cathie wood, the primary reported effect is short-term price depreciation.
Original Article:
Article Content:
Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin tumbles back near last week's lows as AI fears crush tech and precious metals plunge The strong correlation between crypto and the software sector reasserted itself on Wednesday By Helene Braun | Edited by Stephen Alpher Feb 12, 2026, 8:54 p.m. Make us preferred on Google Bitcoin erased most earlier gains on Monday as it headed back towards the $65,000 mark. (CoinDesk) What to know : Bitcoin has mostly erased its bounce from last week's crypto crash, returning to the $65,000 area. The sell-off in digital assets tracked a broader pullback in the tech sector, particularly in the software names with which bitcoin has been so strongly correlated. Gold and silver each suffered quick afternoon plunges, with silver moving from a modest gain for the day to a 10% decline. Bitcoin BTC $ 65,374.79 fell back toward last week's lows, giving up nearly all of its recent gains above $70,000 and resuming its slide alongside weakness in the broader tech sector, as the crypto now trades back around $65,000. Bitcoin was down 2% over the past 24 hours, with losses in ether ETH $ 1,916.16 and solana SOL $ 76.84 roughly tracking. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . The decline mirrored broad price action in the Nasdaq, which fell 2% on Wednesday and more particularly in the software sector, where the iShares Expanded Tech-Software Sector ETF (IGV) tumbled 3%. "Software stocks are struggling again today," wrote macro strategist Jim Bianco . "IGV is essentially back to last week's panic lows." "Don't forget there's another type of software, 'programmable money,' crypto," Bianco added. "They are the same thing." (Source: X/@biancoresearch) Precious metals not immune Cruising along with modest gains through most of the day, gold and silver suffered quick, steep plunges in the mid-afternoon. Late in the session, silver was lower by 10.3% to $75.08 per ounce and gold was down 3.1% to $4,938. Bitcoin News More For You Accelerating Convergence Between Traditional and On-Chain Finance in 2026? By CoinDesk Jan 30, 2026 Commissioned by Societe Generale-FORGE Read full story More For You Ark Invest's Cathie Wood says bitcoin will thrive amid ‘deflationary chaos’ created by AI and innovation By Helene Braun , AI Boost | Edited by Stephen Alpher 3 hours ago Exponential tech will force down prices and stress legacy finance, for which bitcoin offers a trustless alternative, said Wood at Bitcoin Investor Week. What to know : Cathie Wood argues that bitcoin is a hedge not only against inflation but also against a coming wave of technology-driven, productivity-led deflation. She says rapid cost declines in artificial intelligence and other exponential technologies will trigger "deflationary chaos" that traditional financial institutions and the Federal Reserve are unprepared for. In her view, bitcoin’s decentralized design and fixed supply make it a safer alternative to fragile, debt-based financial systems that could be strained by deflation and disrupted business models. Read full story Latest Crypto News Crypto PAC Fairshake seeks to force resistant Texas Democrat Al Green from U.S. House 1 hour ago Sharplink's Lubin and Chalom make their case for ether DATs as prices plunge 1 hour ago Aave labs proposes ‘Aave Will Win’ plan to send 100% of product revenue to DAO 1 hour ago Key Senate Democrat wants U.S. crypto bill to move, and SEC chief reveals danger of defeat 2 hours ago Ark Invest's Cathie Wood says bitcoin will thrive amid ‘deflationary chaos’ created by AI and innovation 3 hours ago From FTX debris to global finance: Solana’s 2026 plan is all about the application layer 4 hours ago Top Stories Bitcoin sinks below $66,000 as crypto prices follow U.S. stocks lower 4 hours ago Standard Chartered sees bitcoin sliding to $50,000, ether to $1,400 before recovery 5 hours ago Recapping day 2 of Consensus Hong Kong 8 hours ago Bitcoin defies 'extreme fear,' hot jobs report to show signs of resilience 9 hours ago Forget $80k: Michael Terpin warns bitcoin could revisit the $40,000s before a real recovery 8 hours ago Binance's Richard Teng breaks down the ‘10/10’ nightmare that rocked crypto 12 hours ago In this article SOL SOL $ 76.84 ◢ 3.52 %