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Bitcoin drops nearly 4% as tech stocks and chip shares fall amid rising oil prices and AI chip costs

Market News
22 Oct 2026
Tokenpost
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Bearish
Bitcoin drops nearly 4% as tech stocks and chip shares fall amid rising oil prices and AI chip costs

Bitcoin fell 3.9% to $81,333.65 amid declines in U.S. tech stocks and semiconductor shares, with the Nasdaq down 2.6% and the Philadelphia Semiconductor Index dropping 6.8%. Rising Brent crude oil prices, hitting $113.17 a barrel, added to market uncertainty due to geopolitical tensions in Iran. Investors are also wary of higher costs for financing data centers and purchasing AI chips. Meta's shares dropped 7% despite beating revenue expectations, as it narrowed its 2026 capital expenditure forecast, reflecting caution in tech spending.

Bitcoin's recent trading sees a notable breadth with only 4 of 50 major cryptocurrencies on Pluang rising as of Oct 23, 2026 07:41 WIB. Among the decliners, VeChain (VET) dropped 6.91%, The Sandbox (SAND) fell 6.81%, and Synthetix (SNX) decreased 6.65%. This snapshot highlights a predominantly bearish day for crypto assets on the platform.

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