Bitcoin tumbled 6.4% on Wednesday, hitting a 24-hour low of $65,708. Ether slid below $1,900 during Asian trading. The selloff came as the MSCI All Country World Index notched a fresh all-time high, driven by gains in AI-related stocks. The divergence marks a sharp contrast between risk appetite in traditional equities and the crypto market.
Bitcoin and Ether in the Red
Bitcoin's drop to $65,708 erased gains from earlier this week. The cryptocurrency had been hovering near $70,000 for days before sellers stepped in Wednesday morning. They never let up. By midday in Asia, bitcoin was down more than 6%. Ether dipped under $1,900 and stayed there, extending losses from Tuesday's U.S. session. The selloff was broad: major altcoins also lost ground. But no single exchange or wallet triggered it. It looked like a broad shift in sentiment, with profit-taking and momentum turning sour.
MSCI Milestone
The MSCI All Country World Index, which tracks stocks across developed and emerging markets, reached a new all-time high. The driver was clear: AI enthusiasm. Investors continue to pour money into companies tied to artificial intelligence, pushing the index to levels never seen before. Wednesday's record came as European and U.S. markets opened on the back of the Asian session. The contrast couldn't be sharper: while crypto bled, equities celebrated.
Asian Session Action
Asia set the tone. Bitcoin broke through $66,000 early in the session and accelerated its decline. Ether followed a similar pattern, slipping under $1,900 and testing support near $1,880. Liquidity conditions were typical for the region, with no major exchange outages. Traders noted the lack of a clear catalyst, pointing instead to a general risk-off move in digital assets. The MSCI index's record came later, but the Asian session had already drawn the battle lines.
Whether crypto can regain its footing depends on upcoming macroeconomic data and the broader risk environment. For now, the market is watching key levels: $65,000 for bitcoin, $1,850 for ether. If those break, the selloff could deepen. If they hold, a bounce is possible. The session is still young.
