Bitcoin falls under $100K as crypto market dips
Bitcoin (Photo: Getty Images)
Bitcoin’s drop below the $100,000 mark triggered a chain reaction in the stock market and affected the share prices of mining companies, according to a report by Finance.yahoo.
Data from the cryptocurrency exchange Binance shows that Bitcoin temporarily fell to $99,908 before recovering to $101,400. This marks the first decline below this psychological threshold since June 23, 2025.
The market continues its downward trend, which began after the crash on October 10, when around $19 billion was pulled out of the crypto industry.
Stock market and miner reaction
Bitcoin’s drop impacted the share prices of mining-related companies. Most tickers fell by a few percent, despite previously recorded high profits.
Investors are realizing losses, and overall interest in the crypto sector has temporarily declined amid high volatility.
Market exceptions
Shares of IREN, a company that previously focused on mining but is now developing artificial intelligence projects, remained positive, rising nearly 1%.
This followed the announcement of a new data center lease in West Texas in partnership with Microsoft. The deal strengthened the company’s position and sent a positive signal to investors focused on AI infrastructure development.
AI infrastructure market and ETFs
Companies combining mining and artificial intelligence have been undergoing a reassessment since early 2025.
The VanEck NODE ETF, which tracks firms working in AI infrastructure, has risen 74% since its launch in May 2025.
The CoinShares WGMI ETF, which reflects the performance of mining company stocks, has increased 166% over the same period.
This demonstrates a shift in investor interest from traditional mining toward AI technologies.
Bitcoin remains under pressure, and the crypto market is in a correction phase. Meanwhile, companies involved in AI infrastructure continue to see growth, indicating a potential shift in investor focus within the tech sector.
Additionally, US President Donald Trump signed a pardon for Changpeng Zhao, founder of the largest cryptocurrency exchange Binance, who had previously been convicted in the United States for violations of financial laws.
It was also confirmed by authorities that 32-year-old Ukrainian blogger Konstantin Hanych (Kudo) died by suicide on October 11. Investigators, supported by CCTV footage analysis, established the act as suicide. Hanych was actively involved in cryptocurrency and ran projects related to digital asset investment.
