Bitcoin (CRYPTO: $BTC) and other cryptocurrencies remain under pressure as market volatility worsens and technology stocks selloff. Growing concerns about the artificial intelligence (A.I.) trade sent the technology-heavy Nasdaq index down nearly 700 points or 2.60% on Oct. 22. The blue-chip Dow Jones Industrial Average is down 500 points on Oct. 23 to end the week.
The situation is pressuring risk assets such as crypto, with Bitcoin’s price at $81,500 U.S. on the afternoon of Oct. 23. Bitcoin is now down 5% for the month of October after rallying more than 40% in the third quarter of the year and rising as high as $86,000 U.S. Other digital assets such as Ethereum (CRYPTO: $ETH) are also sliding as the market grinds lower.
The current slump continues to run counter to the typical upsurge for Bitcoin in October. Typically, October is the best month of the year for crypto. Bitcoin hit a record high of $126,000 U.S. in October 2025. Many analysts expect digital assets to remain under pressure as the market continues to assess the risks of an A.I. bubble, as well as government bond yields and crude oil prices that are now trading above $115 U.S. per barrel.
More From Cryptoprowl:
Here’s what else happened with cryptocurrencies over the past week…
Strategy Buys More Bitcoin: Strategy (NASDAQ: $MSTR) bought another $22 million U.S. worth of Bitcoin over the past week as the price came under pressure during a downturn in technology stocks. Strategy said that it purchased 267 BTC at a cost of $22.1 million U.S. The average price of the latest purchase was $82,900 U.S. per Bitcoin, according to a filing with the U.S. Securities and Exchange Commission (SEC). Strategy’s Bitcoin holdings now stand at 848,517 BTC following the latest acquisitions.
Deposits In ‘Crypto Vaults’ Double To $10 Billion: Deposits to crypto lending vaults have surpassed $10 billion U.S. as a growing number of investors seek returns on their holdings of digital assets. Crypto vaults operate through smart contracts on decentralized platforms. The vaults tend to offer returns, similar to interest paid on bank deposits, of 3% to 10%. Deposits into crypto lending vaults have more than doubled from $4 billion U.S. at the start of 2025. The rise in the popularity of vaults comes as investors increasingly seek out strategies to put their holdings of stablecoins and other cryptocurrencies to work generating yield.