The events of Jan. 29 served as a stark manifestation of this tether. As U.S. tech titans began reporting financial results, the Nasdaq underwent a violent free-fall, sliding from 23,830 points to an intraday low of 23,230. The primary anchor dragging the index down was Microsoft. Despite reporting robust 17% revenue growth, the stock plummeted 11% at its nadir.
While Meta Platforms’ revenue surge and Tesla’s modest profitability attempted to provide a floor, the message from the trading floor was clear: Investors are seemingly no longer buying the artificial intelligence (AI) hype on credit. Instead, the market is punishing companies that fail to bridge the gap between massive AI capital expenditure and immediate bottom-line results.
Bitcoin’s $84,000 Support BreachSome analysts now view $100,000 as a second- or third-quarter target, with February more likely to be a month of base-building around the $80,000 to $88,000 range. However, while charts suggest a period of hibernation, some believe the legislative calendar in Washington may hold the spark necessary to bypass months of consolidation and retest the six-figure barrier.
FAQ Why did bitcoin drop below $84,000? Its price fell as Nasdaq tech stocks slid and AI spending fears spread. How much was liquidated during the crash? Over $860 million in long and short positions were wiped out. What assets gained as bitcoin fell? Gold surged nearly 30% and silver jumped 65% amid Middle East tensions. Can bitcoin hit $100,000 soon? Odds for February are under 10%, with analysts eyeing Q2 or Q3 instead.
