Bitcoin slipped below the $90,000 mark on Tuesday, extending a month-long decline that has pushed the cryptocurrency into negative territory for 2025 amid a broader cooldown in speculative tech assets.
The world’s largest digital currency briefly touched $89,259, its lowest level since April 22, before recovering slightly to around $91,000. With the latest downturn, bitcoin is now down about 2% for the year, according to data from FactSet.
The drop comes as investors continue to unload high-growth and AI-linked technology stocks, a trend bitcoin appeared to signal earlier. The cryptocurrency reached a record above $126,000 in early October but has been sliding steadily since then.
The Nasdaq-100 has fallen about 4% this month, mirroring the weakness in crypto. Analysts say the sharp correlation between the two markets has become more noticeable, especially as many major tech investors also hold sizable positions in digital assets.
Mike O’Rourke, chief market strategist at Jones Trading, described bitcoin’s influence as unusually strong. “It is truly the tail wagging the dog when a $1.8 trillion speculative asset is significantly influencing a $32 trillion market-cap index,” he said, warning that it is “alarming” to see large U.S. equities taking cues from crypto volatility.
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MicroStrategy, one of the biggest corporate holders of bitcoin and often viewed as a leveraged proxy for the cryptocurrency, continued its steep decline, on track for a 27% loss so far in November.
Bitcoin’s downturn comes just weeks after it notched a fresh all-time high, and analysts say sentiment remains fragile as investors reassess risk across both crypto and technology markets. Let me know if you’d like a shorter version or a headline options list.
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