Crypto markets turned lower during U.S. morning hours Thursday, reversing much of the prior day’s advance as technology stocks slid.

Bitcoin fell back under $67,000, shedding more than 4% after briefly touching $70,000 late Wednesday. Ether and solana tracked the move, posting similar percentage declines as momentum faded across digital assets.

The pullback came alongside a roughly 2% drop in the Nasdaq Composite, pressured by a post-earnings selloff in Nvidia. Although Nvidia’s quarterly results did not significantly disappoint, investors appeared to “sell the news” following a strong pre-earnings rally. Nvidia shares declined 4.8%, dragging down other chipmakers including Broadcom, Micron Technology, and Intel, all of which traded sharply lower.

In contrast, software stocks outperformed. The iShares Expanded Tech-Software Sector ETF (IGV) rose more than 2%, highlighting a divergence within the broader tech complex. Bitcoin’s correlation with software equities has been widely noted, though traders often point out that the relationship tends to be most apparent during downside moves.

Crypto-linked equities were also weaker. Shares of Coinbase slipped 1%, MicroStrategy fell 2.3%, and Galaxy Digital dropped 3%.

An exception was Circle, which gained another 3.3% on Thursday. The stock has now climbed roughly 40% over the two sessions following its latest earnings report.