Bitcoin slipped below $80,000 for about two hours on Thursday, reaching roughly $79,800, before returning to near $82,000 on Friday. The drop coincided with turmoil in chip stocks and concerns about AI investment. The day before, nearly $1 billion in leveraged crypto positions had been forcibly liquidated. Investors are waiting for remarks from Fed Chair Kevin Warsh after hotter-than-expected US inflation.
What it means: The move shows how closely bitcoin now tracks other risk assets, especially tech stocks. When investors worry whether the huge AI investments will pay off and where interest rates are heading, crypto falls alongside equities instead of acting as a safe haven. The large volume of forced liquidations also shows the market is still full of leverage, which speeds up declines. For Greek investors, the practical message is that leverage in crypto-assets can wipe out a position within hours, even on a moderate price move. For businesses that hold crypto on their balance sheet or accept it as payment, volatility means they need clear rules on when to convert to euros. Under the Finance Ministry's new draft law, gains from disposing of crypto-assets will be taxed, so every sale during turbulent periods also has a tax side that must be recorded properly. Supervision of providers under MiCA does not protect against price swings, only against some operational risks of the providers themselves. Anyone holding crypto for a business should set a written limit on exposure and review it each quarter rather than reacting to sudden headlines.
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