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Bitcoin dips below $66,000 as traders await Alphabet’s earnings

U.S. spot bitcoin ETFs extended a six-day net inflow streak, adding $203 million on Tuesday, while ether ETFs pulled in $37.5 million.

Reported · Written up by our desk · Market Structure

Bitcoin traded just below $66,000 as crypto markets paused ahead of Alphabet’s earnings, with traders looking for evidence that the AI spending push is delivering returns. CoinDesk data showed bitcoin rose about 2.8% over the period, reaching as high as $66,900 on Tuesday, then recently traded around $66,950 before shifting near $65,900 on Wednesday.

The timing matters for risk appetite, according to CoinDesk, because a two-day rebound in chip stocks stalled while markets waited for Alphabet’s results after the U.S. close. Alphabet said last quarter it would more than double capital spending to as much as $190 billion this year, and investors are weighing whether that build-out remains worth the cost amid concerns about the pace of AI investment.

CoinDesk also linked bitcoin’s monthlong moves to the broader AI trade, noting bitcoin has risen with strength in chip stocks and fallen when the chip complex wobbles. The outlet attributed the correlation to shared risk appetite and said bitcoin miners have shifted toward serving AI data-center demand.

In the ETF market, U.S. spot bitcoin ETFs posted their sixth straight day of net inflows, adding $203 million on Tuesday and bringing the streak to the longest run of gains in three months, based on SoSoValue data cited by CoinDesk. Ether ETFs added $37.5 million, while total assets for U.S. spot bitcoin ETFs were just shy of $81 billion, the most since mid-last month.

Latest closeBitcoin $65,829.95 ▼1.0%

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