Bitcoin Falls Below $66,000 as AI-Fueled Stock Market Rally Reaches New Highs

Bitcoin dropped below the $66,000 mark today as selling pressure intensified across the crypto market, even as global stock indexes pushed to fresh record highs on the back of strong investor enthusiasm for artificial intelligence-related companies.

BTC fell as low as $65,708 during Asian trading hours, extending its weekly decline to 12.3%. Ethereum also faced heavy losses, dropping below $1,900 and recording an 11.1% decline over the past week.

Other major cryptocurrencies joined the sell-off. Solana fell 8%, BNB lost 7.8%, while Tron recorded a smaller loss of 3.5%.

Several Bearish Events Weigh on Bitcoin

The latest decline comes after a series of negative developments for the crypto market. Investors reacted to Strategy’s first publicly disclosed Bitcoin sale, continued spot Bitcoin ETF outflows that have surpassed $3.2 billion, and a $739 million Bitcoin transfer linked to Mt. Gox.

At the same time, ongoing uncertainty surrounding Middle East tensions has added to market concerns, helping push oil prices higher.

AI Stocks Continue to Attract Investor Capital

While crypto struggled, global equities continued their upward trend. The MSCI All Country World Index reached a new all-time high as investors poured money into artificial intelligence-related stocks.

Major technology companies tied to the AI boom also posted strong gains, with semiconductor stocks reaching record levels and several leading chipmakers hitting fresh highs.

Bitcoin Traders Focus on the $65,000 Support Level

Market participants are closely watching Bitcoin’s $65,000 support zone. Analysts believe a sustained break below that level could open the door to a move toward $60,000.

However, if buyers successfully defend the area, Bitcoin could experience a short-term recovery as excessive leverage is cleared from the market. Despite the broader weakness, Hyperliquid remained one of the few major crypto assets showing strength, maintaining a significant weekly gain.