Bitcoin falls below $70,000 as Nasdaq drops 0.9%

Bitcoin's slide below $70,000 looks less like a crypto-specific event than a risk-asset repricing, with hotter producer prices and Fed officials flagging further hikes pressuring equities at the same time. The divergence within tech — Nvidia down, Apple at an intraday record — suggests the rotation is selective rather than a broad flight from risk, which matters for how crypto's correlation to Nasdaq is read. Whether bitcoin keeps tracking equity risk appetite as rate expectations harden is the open question.