Bitcoin Circles $77,000 as US Stocks and Gold Drop Amid Resurgent AI Fears
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Market Performance (as of Oct 30, 2026)
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Written by:
- William Suberg, staff writer
- Charles Bennett, staff editor
Bitcoin risks worst October in 12 years as tech sell-off spreads to gold
Markets
Published: Oct 30, 2026
Bitcoin (BTC) struggled to hold around $77,000 as crypto markets navigated US stock-market downside, while the gold price fell to its lowest in a year.
Key Points:
- Bitcoin faced pressure below $80,000 at Friday’s Wall Street open due to AI fears.
- US stock markets opened sharply lower following weak forward guidance from tech giants.
- Tech contagion impacted both tech giants and chipmakers.
- Gold traded as low as $3,891 per ounce, its weakest in a year.
- Crypto markets also dealt with the aftermath of a multi-billion dollar hack on Binance.
BTC/USD at Risk of Worst October Since 2014
Data from TradingView showed BTC/USD down 1.1% on the day, reaching its lowest levels since Sept. 18. With the current drop, BTC/USD is set to close October 7.7% lower, its worst October performance since 2014, according to CoinGlass data.
Contagion Spreads to Precious Metals
Beyond stocks, the sell-off spread to precious metals, with gold trading as low as $3,891 per ounce—its weakest in a year.
QCP Capital Warns of Market Repricing
Trading company QCP Capital highlighted that macro conditions, tech-sector fears, and the Binance hack had created a period of heightened market repricing. They emphasized the importance of technology sector earnings guidance regarding future capital expenditure for understanding AI infrastructure investment and expected profitability.