Bitcoin falls below $73,000 for first time since November 2024
What's the story
A wave of nervousness swept through the financial markets on Tuesday, with stocks stumbling and Bitcoin hitting its lowest level since November 2024. The Dow Jones Industrial Average fell by 167 points or 0.34%, after a plunge of nearly 575 points earlier in the day. The broader S&P 500 index also witnessed a decline of 0.84%, while tech-heavy Nasdaq Composite dropped by 1.43%.
Crypto downturn
Bitcoin falls below $73,000 for first time since November 2024
Bitcoin witnessed a nearly 7% plunge, falling just below $73,000. This marked its lowest level since President Donald Trump's election victory. The world's largest cryptocurrency by market value later staged a slight recovery to trade around $76,800. Despite Washington's support for pro-crypto policies under the Trump administration and promises to make America the "crypto capital of the world," Bitcoin has struggled to regain its footing after a series of sell-offs since hitting an all-time high above $126,000 in October 2025.
Market shift
Gold and silver prices surge amid financial market turmoil
Amid the downturn in stocks and Bitcoin, gold and silver prices surged, continuing their recent streak of volatility. Gold futures rose by 6.7% to $4,965 per troy ounce while silver futures skyrocketed by 10% to around $85 per troy ounce. Gerry O'Shea, head of global market insights at Hashdex, said this divergence from gold indicates that most investors currently view it as the dominant store-of-value asset amid currency debasement, geopolitical turmoil, and uncertainty over macroeconomic conditions.
Tech turmoil
AI advancements disrupt legal sector, impact US stocks
US stocks also stumbled as Wall Street reacted to recent developments in the artificial intelligence (AI) industry. AI start-up Anthropic unveiled new features for its Claude chatbot, including legal work assistance and execution. The announcement raised concerns about potential disruptions to software companies providing data and services to the legal sector. Salesforce shares fell by 6.85% amid fears of continued AI disruption within tech itself, as investors shift focus toward other momentum winners like memory technology.