Bitcoin slid towards the key $70,000 mark on Monday as US tech stocks hit fresh records, sharpening warnings from long-time critic Peter Schiff that the flagship cryptocurrency could unravel if the Nasdaq finally turns lower.
Bitcoin had been grinding higher in recent months alongside the so‑called 'Magnificent Seven' tech giants, helped by robust US stock indices and growing institutional interest. The rally stalled last week, and on Monday the digital asset slipped below $71,000 for the first time in weeks while the Nasdaq Composite pushed to record highs an uncomfortable split for traders who still like to describe Bitcoin as a high‑beta tech proxy.
