Cryptocurrency market 'evaporates' more than 1,000 billion USD in just 6 weeks

More than $1 trillion has evaporated from the cryptocurrency market value in the past six weeks, amid growing concerns about a tech “bubble” in the stock market.

Illustration of Bitcoin cryptocurrency. Photo: REUTERS/TTXVN

According to data firm CoinGecko, the value of the global cryptocurrency market has fallen 25% from its peak recorded in early October. During the same period, bitcoin has fallen 27% to $91,212 per bitcoin, its lowest level since April 2025.

Investors around the world are getting nervous as fears of an artificial intelligence (AI) bubble in the stock market grow, with even the head of Google's parent company, Alphabet CEO Sundar Pichai, warning that "no company" will be immune if it bursts.

Speaking at a Bloomberg financial event on November 18, JP Morgan Chase Vice Chairman Daniel Pinto said that the high valuations of AI-focused technology stocks need to be reassessed. He said that the group could go through a period of valuation adjustment, which would also create a correction in the rest of the S&P index and the industry as a whole.

Sebastian Siemiatkowski, CEO of payments company Klarna, also sounded the alarm about an “AI bubble” this week, saying the huge amount of money being poured into computing infrastructure worries him. He added that the rising valuations of AI companies, including chipmaker Nvidia, are also a concern.

Nvidia became the first company to reach a $4 trillion market capitalization this year. Apple and Microsoft later reached the same milestone.

Mr Siemiatkowski expressed concern that huge amounts of assets were being automatically allocated to this trend by index funds without more careful thought.

An AI bubble is now seen as one of the most serious risks in the stock market, with a survey by Bank of America finding that 45% of fund managers believe it is the biggest risk.

Source: https://baotintuc.vn/thi-truong-tien-te/thi-truong-tien-dien-tu-boc-hoi-hon-1000-ty-usd-chi-trong-6-tuan-20251119103517709.htm