Bitcoin gave back earlier gains, falling to $82,500, as Tesla and Meta earnings failed to ease AI sector concerns.
Bitcoin briefly surpassed $84,000 and touched nearly $85,000 on Wednesday evening before retreating below $82,800 in early Asian trading on Thursday, giving back earlier gains. Mixed earnings reports from Tesla and Meta dragged Nasdaq futures lower, reigniting market doubts about the outlook for the AI sector. Tesla fell 3% in after-hours trading after lowering its capital expenditure forecast, while chip equipment maker Lam Research dropped 7% due to a weak outlook. Meta, however, rose 2% after increasing its AI spending plans, though this failed to boost overall market sentiment. Nasdaq 100 index futures fell 1.1%, and S&P 500 index futures dropped 0.5%.
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