Tech futures bounced after last week’s 5.5% rout, and bitcoin followed them up before sellers knocked it back. Earnings this week put the AI trade to the test again.
By Shaurya MalwaMake preferred on Share this article9 minutes ago· 7:05 a.m. EDTShaurya MalwaShare this postBitcoin pokes above $83,000 for a moment as tech futures snap a weeklong skid
Bitcoin climbed from an overnight low near $80,700 to just above $83,000 early Monday, then slipped back to about $82,400 within half an hour. Sellers were waiting for the move.
It was a quick turn. Bitcoin is up 0.3% over 24 hours, and $83,000 is still about $1,000 short of the ceiling that turned it back twice last week, near $84,000 on Oct. 13 and again on Oct. 14.
The bounce tracked a rebound in tech. Nasdaq 100 futures climbed 1.1%, snapping a weeklong 5.5% selloff, and S&P 500 futures rose 0.5%. An ETF tracking chipmakers jumped 3% before the U.S. open, on course for its first gain in 10 sessions. This week’s earnings will put the AI trade under the spotlight again.
Europe was weaker. The Stoxx 600 fell 0.8% after a weekend of protests in France, French bonds led a selloff in European debt, and the euro was the worst performer among major currencies. The dollar was flat, and Brent crude slipped from a five-month high.
A move through $84,000 would be the first sign the tech rebound is pulling bitcoin up with it.
