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Bitcoin fell below $75,000 on Thursday, extending its recent slide as AI-linked equities continued to outperform crypto.
BTC traded near $73,000 after dropping as low as about $72,678. The move came while the Nasdaq and major semiconductor stocks continued to benefit from the market’s AI-driven rotation.
BTC Slides Toward $73K After 30% Yearly Drop
Bitcoin’s latest drop added to a weak 2026 performance. BTC is down 11% year to date and nearly 30% over the past 12 months, pushing Bitcoin lower in global asset rankings as investors shift toward other assets.
The comparison with equities has become sharper. Bitcoin is struggling to hold the low-$70,000 range while AI and semiconductor stocks continue to attract capital.
AI Stocks Push Nasdaq to Record Highs
This week, the S&P 500 and Nasdaq closed at record highs on optimism around AI. Semiconductor shares led the rally, while Micron joined the trillion-dollar market-cap club. Other chip names have also benefited from investor demand tied to AI infrastructure, data centers and high-performance computing.
The same rotation has pushed TSMC and Broadcom ahead of Bitcoin in market value, with both companies now worth around $2 trillion. That leaves Bitcoin competing with companies that investors currently see as direct beneficiaries of the AI boom.
Bitcoin Miners Shift Capital toward AI Infrastructure
The pressure is also showing up in Bitcoin mining. In March, Bitcoin’s hashrate recorded its first first-quarter decline since 2020, falling about 4%.
Listed miners have been shifting capital toward AI and high-performance computing instead of only expanding mining fleets. That change reflects tougher mining economics. It also shows that some companies once tied closely to Bitcoin are now chasing revenue from AI infrastructure.
CLARITY Vote Fails to Reverse Crypto Weakness
Policy momentum has not been enough to reverse the weak market tone. The Senate Banking Committee advanced the CLARITY Act in a 15-9 vote, with support from only two Democrats.
Roll Call reported that at least seven Democrats or independents would still be needed on the Senate floor to overcome a filibuster if Republicans stay united. The Senate version also replaced the House text, meaning the House would need to act again if the Senate passes its bill.
Low-$70K Range Becomes Bitcoin’s Next Test
For now, Bitcoin is losing the comparison that helped it earlier in the cycle. AI stocks are still drawing capital, miners are chasing AI revenue and crypto legislation remains unfinished.
The next market test is whether buyers can defend the low-$70,000 range after the latest break lower.
