Bitcoin Falls Below $90,000 as Asia Markets Open Amid Tech Sector Concerns
Bitcoin slipped below $90,000 as Asia markets started the final full trading week of 2025 on a weaker footing amid doubts about technology earnings. US stock index futures pointed to losses for Australian, Hong Kong, and Japanese benchmarks following a slump in US stocks, with Broadcom's softer sales outlook weighing on the AI trade and pushing the S&P 500 down about 1%.
Global risk sentiment has faded as tech stocks, which have risen roughly 300% in three years, face questions about whether valuations and aggressive AI budgets are sustainable. The MSCI Asia Pacific ex-Japan index fell about 1%, with South Korea dropping more than 2% in Monday trading.
Although dollar weakness and bets on two Federal Reserve rate cuts in 2026 provided some support, cryptocurrency prices remained tied to equity volatility and developments in the AI trade. President Donald Trump commented that the new Federal Reserve chair will want interest rates to fall, adding an additional macroeconomic layer to market dynamics.
In the crypto market, Bitcoin traded around $89,293, down 1.1%, Ether at $3,111, down 0.3%, XRP at $2.00, down 1.4%, with the total market capitalization approximately $3.13 trillion, down 0.9%.
