AI Concerns Impact Tech Stocks, Crypto Market, and Mining Companies Collectively Under Pressure
By: theblockbeats.news|2026/02/05 05:02:27
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BlockBeats News, February 5th: Bitcoin dropped below $74,000 during the US stock morning session, with the previous day's low point rebound quickly fading, and tech stocks selling off again, dragging down the crypto market sentiment. The Nasdaq 100 index continued to weaken, with the software sector plunging significantly, exacerbating concerns about the impact on the AI industry.
Influenced by the AI infrastructure concept, the stock prices of crypto mining companies fell simultaneously, with Cipher Mining, IREN, and Hut 8 all dropping by more than 10%. Previously, AMD plummeted 14% due to lower-than-expected performance guidance for 2026.
On the macro level, US economic data showed differentiation, with the service industry still expanding but job growth significantly slowing down. Some analysts believe that the market may be underestimating the potential easing stimulus from the Federal Reserve in 2026.
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