Bitcoin Remains Weaker as Slump in Chip Stocks Broadens
Dow Jones
3 hours ago
1141 GMT - Bitcoin stays under pressure as the selloff in chip stocks deepens, weighing on risk appetite. Nasdaq futures point to a 0.8% fall in the tech-heavy U.S. stock index. Investors are cautious with positioning ahead of the Federal Reserve's policy decision on Wednesday and earnings from major U.S. tech companies amid renewed concerns over the scale of AI-related spending, Capital.com's Daniela Hathorn says in a note. "Investors are becoming increasingly selective this earnings season, with strong revenue growth no longer enough to satisfy markets unless accompanied by evidence that elevated spending is translating into sustainable profitability." Bitcoin falls 2.2% to $63,462 after reaching an 11-day low of $63,038 overnight, LSEG data show.
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