Bitcoin fell below the $67,000 mark on Tuesday as ongoing weakness in U.S. software stocks spilled over into digital assets, reinforcing crypto’s tight linkage with the tech sector.

After holding within a narrow $68,000–$70,000 band over the weekend, bitcoin broke lower, trading around $67,173 at the time of writing. The decline came as U.S. equities opened softer, led by renewed selling in software shares.

The iShares Expanded Tech-Software Sector ETF dropped another 3% and now sits roughly 30% below its October high. Investors have continued to rotate out of software names amid concerns that advances in artificial intelligence could disrupt traditional revenue models.

Broader equity benchmarks also weakened, with the Nasdaq Composite down 0.8% and the S&P 500 off 0.6%, underscoring a broader risk-off tone.

The retreat extended beyond equities. Gold fell 3% to about $4,860 per ounce as its once-strong rally cooled further, while silver slid 6%, leaving it nearly 40% below its late-January peak.

Crypto-linked stocks echoed the downturn. Strategy (MSTR), the largest corporate holder of bitcoin, dropped around 5%. Circle (CRCL) posted a similar loss. Bitcoin mining and data center firms — including Riot Platforms (RIOT), MARA Holdings (MARA), CleanSpark (CLSK), Cipher Mining (CIFR) and TeraWulf (WULF) — declined between 4% and 5%.

Waiting for a catalyst

Paul Howard, senior director at Wincent, said the crypto market remains closely aligned with macro sentiment.

“Macro factors have been highly correlated with crypto’s risk profile over the past year,” Howard said, noting that expectations for softer economic data are sustaining a defensive, risk-off approach among investors.

He suggested that an upcoming tariff ruling from the Supreme Court of the United States could prove more impactful in the near term than routine economic releases.

Until a clearer narrative emerges, Howard expects bitcoin and the broader digital asset market to consolidate, as investors weigh opportunities in AI-related equities and commodities against crypto’s value proposition.

“Crypto needs to reestablish itself as a compelling asset class,” he said, adding that lower prices alone have not been sufficient to draw meaningful capital back into the sector.