Bitcoin Gives Up Last Week’s Gains as Tech Stocks Weaken, Oil Jumps

Bitcoin turned lower and gave up last week’s gains as weakening technology stocks, surging oil prices and regulatory uncertainty hurt investor sentiment.

Cointelegraph reported on April 28 that a pullback in tech shares, rising crude prices and uncertainty over regulation were together adding downward pressure on Bitcoin.

Bitcoin briefly fell below $76,000 that day, tracking a 1% drop in the tech-heavy Nasdaq 100.

The Nasdaq 100 fell as artificial intelligence-related stocks weakened. The Wall Street Journal reported that OpenAI, the developer of ChatGPT, said its 2025 revenue and user-growth targets fell short of expectations, sending related shares lower. Nvidia, Oracle and CoreWeave each dropped more than 2%.

The weakness in tech stocks also appeared to reflect profit-taking. After the Nasdaq 100 closed at a record high the previous day, investors turned cautious ahead of earnings from major technology companies. Microsoft, Alphabet, Amazon and Meta have reported, with Apple’s results still due.

Higher oil prices also weighed on broader markets. Brent crude climbed to around $110 a barrel as tensions surrounding the Strait of Hormuz persisted amid stalled negotiations between the U.S. and Iran.

Regulatory uncertainty in digital assets is also pressuring sentiment. Market participants say expectations for institutional inflows have weakened as progress on the CLARITY Act, a U.S. digital-asset market structure bill, has stalled. The legislation passed the House in 2025 and remains pending in the Senate.

Bitcoin was trading at $76,322.65 on Binance’s USDT market, down 1.31% from a day earlier.