Bitcoin dips sub-$70K as Dow futures fall on Google AI capex

U.S. stock futures weakened as investors absorbed Alphabet’s unexpectedly large artificial-intelligence capital spending plans, pressuring mega-cap technology valuations and risk appetite. The capex shock rippled across equities and digital assets as traders reassessed margins and cash flow trajectories.

The move came alongside a slide in Bitcoin below the $70,000 threshold, a level closely watched for sentiment. Investors.com noted weekly U.S. jobless claims rose to 231,000 versus 212,000 expected, adding to caution around growth and earnings resilience.

Markets at a glance: Dow futures dip, Bitcoin below $70,000

Stock-index futures pointed lower as investors digested mega-cap tech results and guidance. At the time of this writing, Bitcoin traded near $70,259 with sentiment flagged as Bearish, volatility at 6.38% (High), RSI(14) at 24.03 (Oversold), and spot below its 50- and 200-day SMAs.

Margin sensitivity is front and center. As reported by the Financial Times, Alphabet’s 2026 capital expenditures are guided at roughly $175–$185 billion, well above prior expectations around $120 billion, intensifying concerns about near-term profitability even as AI demand scales.

After a strong quarter, some argue the strategy is long-term positive but near-term dilutive. “Alphabet is making the right moves at the right time,” said Dan Ives, Analyst, Wedbush, in comments reported by Fortune, while cautioning that higher investment can compress margins before revenue ramps.

Software and broader tech weakness remain focal, with wall street coming off a notable sell-off in software stocks that weighed on the S&P 500, as per CNBC. That backdrop encourages rotation into more defensive or cash-generative names as volatility stays elevated.

Bitcoin’s cross-asset linkages were on display. AP News reported a drop to about $69,493, the lowest in roughly 15 months, highlighting how the $70,000 round number has become a key sentiment pivot for crypto traders amid risk-off flows.

What to watch next: earnings, data, yields, Google AI spending

Alphabet capex guidance and mega-cap tech reaction

Focus now shifts to how mega-cap peers respond on capex, supply chains, and AI monetization. As reported by Investopedia, investors are also awaiting earnings from fellow Magnificent Seven names, a potential catalyst for broader equity risk and index leadership.

Bitcoin liquidity, support zones, and risk sentiment

Liquidity around the $70,000 area remains pivotal for intraday direction and volatility. Meyka’s technical commentary cautions that a sustained break below could expose lower zones near $65,000 if demand fades and exchange reserves rise.

FAQ about Dow Jones futures

What pushed Bitcoin below $70,000 and where are the next support levels?

AP News cited a risk-off backdrop and a 15‑month low near $69,493. Meyka flagged potential follow-through toward $65,000 if the $70,000 area fails and liquidity thins.

How much is Google spending on AI and what does it mean for Alphabet’s margins?

The Financial Times reported $175–$185 billion of 2026 capex. Near-term, that scale can compress margins before AI-driven revenue and efficiency gains potentially offset higher fixed costs.