Bitcoin crashes below $63,000 as global stocks simmer down

U.S. stocks bounced hard Tuesday as fears about AI wrecking parts of the market started to fade.

The S&P 500 climbed 0.77% to close at 6,890.07. The Nasdaq Composite gained 1.04% and finished at 22,863.68. The Dow Jones Industrial Average added 370.44 points, up 0.76%, ending at 49,174.50.

The Dow got a lift from Home Depot, which rose nearly 2% after posting its first earnings beat in a year. IBM, which had dropped sharply the day before on AI-related worries, also helped support the index as shares recovered.

The real momentum came from chips.

Advanced Micro Devices surged 8.8% after Meta Platforms announced a multiyear agreement to deploy up to 6 gigawatts of AMD’s GPUs for AI data centers.

Meta is also taking a deeper stake, securing a performance-based warrant tied to as many as 160 million AMD shares.

That strength spilled into software.

Salesforce, which has been collaborating with Anthropic, rose about 4%.ServiceNow added more than 1%.
The iShares Expanded Tech-Software Sector ETF (IGV) climbed nearly 2%, though it still sits more than 30% below its 52-week high.

The gap between traditional Bitcoin miners and those leaning into AI infrastructure is getting wider by the week.

MARA Holdings built its name on validating blockchain transactions and stacking Bitcoin, but that model is under pressure.

The company became the largest publicly traded miner by computing power and holds more Bitcoin on its balance sheet than anyone except Michael Saylor’s Strategy.

Even so, the stock has fallen about 40% over the past year, and the market is not rewarding the hoard the way it once did.

Miners used to treat their Bitcoin reserves like a financial toolkit. They borrowed against it, lent it out, and used it to strengthen their balance sheets.

That worked when prices were rising. Now that holdings must be marked to current market prices every quarter, volatility cuts both ways. What once looked like hidden value can suddenly look like risk.

Meanwhile, companies that moved aggressively into AI data centers are seeing a different reaction.

TeraWulf and Cipher Mining have retooled facilities, raised billions in debt, and locked in multiyear co-location deals with hyperscalers like Google and Microsoft. Both were considered mid-tier miners not long ago. Today, each carries a market value above $6 billion, more than double MARA’s.

Then there is IREN. Instead of just leasing space to AI firms, IREN bought its own GPUs and runs the compute operations directly, selling processing power to customers itself.

That has transformed the company. Its market cap has climbed past $14 billion, and the stock is up more than fourfold over the past year. A year ago, it was smaller than MARA.

Not everyone has gone all in, and that hesitation is showing.

Activist investor Starboard has taken a sizable position in Riot Platforms and is pushing management to accelerate its AI buildout. Bitdeer Technologies went a different route this week, saying it sold all of its Bitcoin holdings entirely.

While Bitcoin is sliding under pressure, crypto-linked equities are telling a mixed story today.

• MercadoLibre is up 3.09% at $1,922.01 with $8.7B in volume and a $101.2B market cap.
• Robinhood gains 2.22% to $73.37 on $7.5B traded, valued at $68.2B.
• Coinbase rises 1.12% to $162.03 with $7.2B in volume and a $44.7B cap.
• Strategy adds 0.73% to $124.61, trading $5.8B, worth $43B.
• PayPal jumps 6.72% to $47.01 with $3B in turnover and a $41.2B valuation.
• Block edges up 0.48% to $50.99, volume at $454.2M, market cap $32.2B.

On the downside, Net Holding falls 4.41% to $46.86 with $157.8M traded, capped at $22.9B, and Nexon drops 3.04% to $20.06 on light $262.8K volume, valued at $16.3B.

Miners are where the action is.

• IREN surges 7.39% to $45.49 with a massive $6.1B in volume, market cap $17.6B.
• TeraWulf rockets 11.86% to $17.54 on $2.6B traded, valued at $6.6B.
• Cipher Mining climbs 12.45% to $17.11 with $3B in volume and a $6B cap.
• Hut 8 rises 9.46% to $59.14, trading $961.5M, market cap $5.9B.
• Core Scientific adds 5.71% to $17.86 with $505.4M volume, valued at $5.2B.
• Riot Platforms gains 5.3% to $16.48 on $551M traded, cap $6.5B.
• CleanSpark is up 5.4% to $10.35, volume $353M, cap $3.4B.
• Bitfarms jumps 8.33% to $2.21 with $160.7M traded, valued at $1.2B.
• HIVE Digital rises 4.98% to $2.21 on $78.8M, market cap $723.4M.
• Bitdeer gains 4.36% to $8.37 with $66.5M volume, cap $2.9B.
• MARA adds 1.97% to $8.04 on $616.2M traded, valued at $4B.

Elsewhere, Galaxy Digital is up 5.9% at $21.54 with $188.7M volume, market cap $8B. Circle ticks up 0.36% to $61.39 with $460.2M traded, cap $15.6B. GameStop gains 0.55% to $23.77, volume $121.3M, market cap $10.6B.

Bitmine Immersion rises 1.14% to $19.44 with $558.9M traded, valued at $8.7B. Neptune Digital slips 2.56% to $0.76 on $81.6K volume, cap $7.4B. Figure Technology drops 1.54% to $29.75, trading $202.3M, worth $6.4B.

Smaller names are volatile.

Canaan explodes 16.25% to $0.50 with $68.9M traded, cap $312.7M. Rumble rises 3.52% to $5.72, volume $20.3M, market cap $2B. American Bitcoin gains 3.59% to $1.01 on $34.6M volume, valued at $1.4B.
SharpLink is up 0.92% to $6.55, volume $61.3M, cap $1.3B.

Exodus adds 2.3% to $9.77 with $360.6K traded, market cap $309.2M. Kulr rises 4.87% to $2.90, volume $2.6M, cap $127.2M. Bitcoin Group SE gains 3.02% to $28.70 on $235.5K, valued at $23.7M. Argo Blockchain climbs 2.83% to $2.91, volume $10.8K, cap $1.4M.

Flat or inactive names include Boyaa International, Semler Scientific, Twenty One, ProCap BTC, and Sol Strategies, all showing no price change.

Bitcoin is trading at $62,950, down 4.63%, with $73.93 billion in derivatives volume up 24.09%, market cap at $1.26 trillion, spot volume at $43.63 billion up 0.15%, open interest down 4.14%, and liquidations at $144.90 million.

Ethereum is at $1,822.5, down 4.71%, with $48.50 billion in derivatives volume up 14.73%, market cap at $220.12 billion, spot volume at $23.44 billion up 0.14%, open interest off 3.39%, and liquidations at $96.92 million.

Solana is trading at $76.46, down 4.54%, posting $11.23 billion in derivatives volume up 9.31%, market cap at $43.59 billion, spot volume at $4.92 billion up 0.02%, open interest down 4.82%, and $18.85 million in liquidations.

XRP stands at $1.3279, down 4.58%, with $5.21 billion in derivatives volume up 11.87%, market cap at $81.05 billion, spot volume at $2.27 billion up 0.17%, open interest down 6.36%, and $6.67 million liquidated.

HYPE is at $26.487, down 4.45%, with derivatives volume of $1.38 billion up 32.75%, market cap at $6.83 billion, spot volume at $1.13 billion up 0.13%, open interest down 5.06%, and $10.37 million in liquidations.

Dogecoin trades at $0.09124, down 5.05%, with $2.18 billion in derivatives volume up 21.41%, market cap at $15.42 billion, spot volume at $1.02 billion up 0.37%, open interest down 6.49%, and $2.69 million liquidated.

BNB is at $587.88, down 3.16%, with $1.12 billion in derivatives volume down 2.17%, market cap at $80.19 billion, spot volume at $953.12 million down 0.10%, open interest off 4.87%, and $971,360 in liquidations.

Bitcoin Cash is taking the hardest hit at $480.14, down 11.21%, with $1.16 billion in derivatives volume up 60.16%, market cap at $9.62 billion, spot volume at $624.35 million down 0.22%, open interest plunging 12.26%, and $3.14 million liquidated.

Tether Gold is bucking the trend at $5,146.9, up 0.28%, with $3.13 billion in derivatives volume up 40.25%, market cap at $2.68 billion, spot volume at $531.42 million up 0.50%, open interest up 0.63%, and $560,900 in liquidations.

Sui trades at $0.8563, down 5.34%, with $766.70 million in derivatives volume up 11.70%, market cap at $3.30 billion, spot volume at $458.78 million down 0.15%, open interest off 3.04%, and $1.29 million liquidated.

In Europe, the Stoxx 600 is down 0.3% by mid-morning as traders react to Donald Trump’s latest tariff move. The CAC 40 is up 0.05% at 8,501.78, the FTSE MIB is down 0.36% at 46,530.28, the FTSE 100 is off 0.24% at 10,659.49, the DAX is down 0.08% at 24,972.24, and Spain’s IBEX 35 is lower by 0.73% at 18,155.50.

In the U.S., futures are barely moving after Monday’s selloff. Dow futures are up 33 points, about 0.1%, S&P 500 futures are flat, and Nasdaq 100 futures are up 0.1%.

On Monday, the Dow dropped nearly 822 points, or 1.7%, weighed down by a roughly 13% slide in IBM shares. The Nasdaq Composite fell 1.1%, and the S&P 500 lost about 1%, pushing it into the red for the year as traders reacted to tariff threats of up to 15%, fresh U.S.–Iran tensions, and renewed fears around AI disruption.