Bitcoin is seriously dropping again, yesterday it briefly rebounded but then immediately lost gains. Now it’s stuck in the 65-66k range, even though the latest data shows the price around 72k, but the momentum is still weak. The problem isn’t just crypto, but the entire risk asset market is selling off. Tech stocks, especially software ETFs, dropped another 5%, private equity stocks also declined 6-8%. These problematic stock sectors are dragging crypto down with them.

What’s interesting is that Bitcoin is now moving like a high-beta asset rather than a safe haven. Investors are pulling money out of speculative assets, so crypto and tech stocks are falling together. The correlation between Bitcoin and software stocks has been nearly perfect lately. Plus, there’s concern about AI potentially disrupting traditional business models, global tariffs are unclear, all creating a risk-off environment.

So for now, crypto is still trapped in the 60-70k range depending on overall market sentiment. If the stock market stabilizes, crypto can breathe again, but if stocks keep falling, crypto will fall too. This isn’t about Bitcoin’s fundamentals anymore, but about investors’ overall risk appetite.