Bitcoin falls below $95,000 as four-day rout picks up steam

In a significant downturn, Bitcoin has slipped below the $95,000 mark, deepening its decline as it enters the fourth consecutive day of losses. The world's leading cryptocurrency was last recorded trading at $94,896.03, representing a 3.5% drop just for the day. This week has been challenging for Bitcoin, which briefly surged past $107,000 on Tuesday before succumbing to pressure. The cryptocurrency's performance is closely tied to the fluctuations in technology stocks, particularly those heavily invested in artificial intelligence. As concerns grow regarding the exorbitant spending by major tech companies on AI projects, many have seen their stock values decline. On Thursday, futures for the Nasdaq-100 index fell by over 1%, reflecting a broader market trend where tech giants such as Meta, Alphabet, Intel, Nvidia, and Tesla experienced premarket losses ranging from 1% to 5%. This pullback has raised alarms among investors, who are now reassessing their positions in both cryptocurrency and tech equities.