Bitcoin traded above $81,000 Tuesday morning after briefly hitting $82,026 overnight. Solana and Dogecoin led gains among major altcoins, while Ether slipped.
Investor Michael Burry, famous for predicting the 2008 housing crash, warned in a Substack post that the Nasdaq 100's valuation has reached dot-com bubble territory. He advised readers to take profits and reduce exposure to AI stocks, calling the rally in the Philadelphia Semiconductor Index "parabolic."
"Wall Street may be overstating by more than 50% the earnings at our fastest growing, most highly valued companies," Burry wrote.
Oil prices climbed nearly 1% to above $105 a barrel after President Trump cast doubt on the Iran ceasefire, renewing concerns over the Strait of Hormuz. The dollar strengthened and the 10-year Treasury yield rose to 4.42% as investors sought safe havens.
Asian equity markets pulled back from records. South Korea's Kospi fell over 5% after a policymaker proposed taxing AI profits to fund citizen dividends.
Bitcoin's price faces a key test Tuesday with the release of U.S. inflation data. A hot number could pressure risk assets; a soft print may extend crypto's rally.