Crypto Market Drops Deeper Amid AI Sector Fears and IBM's 11% Plunge

The cryptocurrency market is experiencing intensified selling pressure, extending its recent declines. This downturn coincides with a significant sell-off in the traditional tech sector, notably highlighted by International Business Machines Corp. (IBM) plunging 11%. The sharp drop in IBM's stock is attributed to growing investor concerns over the sustainability of the artificial intelligence (AI) boom and its impact on related tech investments. This bearish sentiment from equity markets appears to be spilling over into digital assets, contributing to broader risk-off behavior. Major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), are seeing notable losses as traders reassess risk across technology-driven asset classes. The correlation highlights the increasing sensitivity of the crypto market to macroeconomic trends and shifts in investor appetite for high-growth tech stocks.