Bitcoin nears weekend low of $74,600 as stock selloff adds to crypto's woes

Bitcoin (BTC) dropped 5% to $75,000, nearing its recent weekend low of $74,600, as a broader sell-off in the U.S. tech sector and financials dragged down crypto markets. Ethereum and Solana also saw significant declines. Major tech stocks like Shopify and Adobe tumbled 7%-12%, and private equity giants such as Blackstone fell 6%-10%. This market downturn is partly linked to concerns about economic health and tighter liquidity, following a BlackRock private debt fund filing in late January that marked down asset values. Meanwhile, Matt Hougan, CIO of Bitwise, characterized the current market as a "full-bore, 2022-like crypto winter" that began in January 2025. However, he suggested that based on historical patterns, this prolonged bear market could be nearing its end, potentially bottoming out within weeks.

(Source：CoinDesk)