Bitcoin retreats below $82k as AI selldown, rising oil batter risk

Bitcoin slid below $82,000 on Thursday, after losing its overnight bounce, as artificial intelligence stocks plunged and oil prices continued to rise, causing risk assets to suffer. The world's most prominent cryptocurrency dropped 1.8% to $81,906.8 at 05:50 ET (09:50 GMT), having reached nearly $85,000 overnight. Bitcoin stayed within a narrow trading range established over the past month, as the third-quarter rally fizzled out in October.

Similar trends were observed in other major cryptocurrencies, with Ether falling 2% to $2,405.48, BNB dropping 1.8%, and XRP declining 2.1%. Solana and Cardano also experienced significant losses of 2.4% and 4%, respectively. Memecoins like Dogecoin and $TRUMP saw further declines of 3.4% and 2.9%, respectively.