IBM shares fell as much as 25% in Tuesday trading after the company released preliminary second-quarter results on July 14 that came in below Wall Street expectations, marking its biggest single-day drop since 1968. The company reported preliminary revenue of $17.2 billion, versus analyst expectations of $17.9 billion. Chief Executive Arvind Krishna told investors IBM had not adjusted quickly enough internally, which delayed several large deals and left a revenue gap in the quarter. He also said customers are shifting capital spending away from traditional software and services and toward AI infrastructure, including chips and servers. The read-through hit other software and IT services names, with Microsoft, Workday, Salesforce, and Autodesk all falling on Tuesday. The move added to a wider split already seen across the technology sector in 2026: the iShares Expanded Tech-Software Sector ETF has fallen more than 12% this year, while the Philadelphia Semiconductor Index has risen more than 78%, pointing to a sharp divergence between hardware and software valuations.

Bitcoin slid back below $70,000 as a broader risk-off move in equities hit crypto markets. Circle fell 16% and Coinbase dropped 8%, while shifting Fed rate expectations and stablecoin regulatory concerns added pressure across digital assets and crypto-linked stocks.

Bitcoin fell back to around $69,600 as a broader equity pullback hit crypto markets. Circle plunged 16% and Coinbase dropped 8%, while shifting Fed rate expectations and stablecoin regulation concerns added pressure.

Bitcoin is up about 8.5% this week and trading above $71,000, outperforming tech stocks, gold and U.S. equities. With U.S. spot Bitcoin ETFs seeing roughly $1.3 billion in March net inflows, the market is reassessing Bitcoin’s role beyond a pure risk asset.

Bitcoin is on track for its strongest week since September 2025, rising about 8.5% above $71,000. Its short-term divergence from tech stocks, gold and U.S. equities suggests investors may be reassessing bitcoin as more than a pure risk asset.

Bitcoin briefly rose to $72,750 after news of a two-week U.S.-Iran ceasefire boosted risk appetite. Crypto-linked stocks, tech shares and major ETFs gained in pre-market trading, while oil fell sharply and market volatility declined.

Bitcoin briefly rose to $72,750 after news of a two-week U.S.-Iran ceasefire boosted risk appetite. Crypto-linked stocks and tech ETFs advanced in pre-market trading, while oil fell sharply and volatility eased across markets.

Arthur Hayes argues AI-driven inflation and job fears will dominate US midterm politics, forcing central banks to print more money. He predicts Bitcoin bottomed at $60K and could surge to $126K, as war and de-dollarization drive capital into crypto.