Bitcoin retreats from $85,000 as corporate outlooks dampen AI sentiment

Bitcoin traded just below $82,800 after a brief surge to nearly $85,000 reversed, leaving it near the $82,500 support level, which some analysts warn could precede a slide toward $70,000. This reversal was influenced by disappointing corporate outlooks, including Tesla cutting its capital-spending forecast and Lam Research dropping 7%, and mixed results from Meta, despite raising its AI spending plans. Most major cryptocurrencies declined, while Zcash gained nearly 3% and XRP edged higher.