Bitcoin holds near $75,000 despite a tech stock rout and a crypto hack

Bitcoin investors have faced a wave of bad news, including a record hack, political shifts, and a sharp drop in tech stocks. Yet the leading cryptocurrency has fallen only about 1% in the past 24 hours and now trades near $75,000, according to Fortune.

“It could have gotten hit a lot harder,” said John LaForge, the head of alternatives strategy at Ned Davis Research, an investment research firm. “The fact that it’s still… holding the 75 to 80 range, I consider it a mild positive.” The latest decline followed revelations about Jensen Huang, the CEO of Nvidia, which makes chips used for artificial intelligence, and an investigation into whether Chinese intelligence targeted him.

Those troubles followed a Democratic takeover of Congress that dealt losses to crypto-backed candidates, and a hack that drained roughly $6.3 billion from Binance, the world's largest centralized crypto exchange. Broader economic pressures have not helped either. The tech-heavy Nasdaq stock index dropped over 5% last week in response to fears of a broad selloff in artificial intelligence stocks.

Investors now await Tuesday's inflation report, which economists expect to show a further rise in consumer prices. Traders also anticipate a Federal Reserve rate hike in December, which would create another potential headwind for crypto markets. The cryptocurrency has suffered much sharper selloffs in the past, including an October 2025 drop triggered by trade threats from US President Donald Trump.

Ish Asad, a crypto research analyst at Bitwise, an asset manager, said Bitcoin's resilience may say more about how far it has already fallen than about the latest bad news. “I think a lot of the bad news was priced in already,” Asad said.

Altcoins, the industry term for cryptocurrencies other than Bitcoin, have suffered much sharper selloffs. Ether, the second-largest cryptocurrency, fell nearly 5% over the past day, while XRP dropped nearly 12% over the past week.