On the morning of Friday, October 17, 2025, Bitcoin and other cryptocurrencies are showing moderate losses. The leading digital asset is down about 2%, while altcoins have declined between 3% and 6%. Stock indices also opened in the red — Nasdaq and S&P 500 each dropped around 0.7% at the start of trading.

Cryptocurrency prices
Cryptocurrency prices. Source: CoinMarketCap

There are no direct triggers for the correction, but growing concerns over a potential AI bubble burst are weighing on sentiment — The Guardian recently warned of rising risks in this sector. At the same time, escalating trade tensions between China and the U.S. are adding pressure. On October 10, new tariff announcements by Donald Trump triggered one of the largest flash crashes in crypto history.

Market attention is now divided between the rapid rise of AI-driven stocks and the continued dominance of gold as a safe-haven asset.

The macroeconomic backdrop remains challenging. In the U.S., the yield on 10-year Treasury bonds has climbed back above 4.8%, increasing pressure on risk assets such as tech stocks and cryptocurrencies. Meanwhile, gold continues to hit fresh record highs, currently trading near $4,200 per ounce, as investors seek protection amid growing financial uncertainty.

The Fear & Greed Index currently stands at 32 points, indicating a state of fear. The Altcoin Season Index is at 29 points — far from signaling an altseason. The total cryptocurrency market capitalization is estimated at $3.7 trillion, down roughly 2.5% in the past 24 hours.