Market Beats | Bitcoin Tumbles Below $70,000 to 15-Month Low; US Jobless Claims Jump to 231,000 as Severe Winter Weather Disrupts Labor Market; Hims & Hers Launches $49 Compounded Weight-Loss Pill; Anthropic Debuts Claude Opus 4.6 for Financial Research; Winklevoss-Led Gemini Cuts 25% of Workforce; Ares Management Hits Record $622 Billion AUM; KKR Shares Fall 7% on Profit Slide as CEO Defends AI Strategy and 7% Software Exposure

—— Bitcoin Tumbles Below $70,000 to 15-Month Low; US Jobless Claims Jump to 231,000 as Severe Winter Weather Disrupts Labor Market; Hims & Hers Launches $49 Compounded Weight-Loss Pill; Anthropic Debuts Claude Opus 4.6 for Financial Research; Winklevoss-Led Gemini Cuts 25% of Workforce; Ares Management Hits Record $622 Billion AUM; KKR Shares Fall 7% on Profit Slide as CEO Defends AI Strategy and 7% Software Exposure

1. Bitcoin Tumbles Below $70,000 to 15-Month Low

Bitcoin tumbled below the $70,000 psychological threshold on Thursday as negative momentum deepened across the digital asset ecosystem. The token dropped as much as 4.9% to $69,049 in early New York trading, hitting its lowest level since November 2024. This latest slide brings the premier cryptocurrency to approximately 45% below its October peak of $126,000, as institutional demand from ETFs and corporate treasuries continues to evaporate.

Joel Kruger, markets strategist at LMAX Group, noted that price action has been undeniably heavy, with Bitcoin acting as the primary drag on broader sentiment. He highlighted that many hallmarks of market capitulation are now evident, with technical indicators deeply oversold and the Crypto Fear & Greed Index plunging to an “Extreme Fear” reading of 14. Analysts at Glassnode described the current environment as a “demand vacuum,” characterized by structurally weak spot volumes and a forced deleveraging phase in futures markets.

This lack of liquidity has created a scenario where sustained sell pressure is forcing investors to exit positions at a loss.

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2. US Jobless Claims Jump to 231,000 as Severe Winter Weather Disrupts Labor Market

The number of Americans filing new applications for unemployment benefits rose more than forecast last week, as severe winter weather gripped large portions of the country. Initial jobless claims increased by 22,000 to 231,000 in the week ended January 31, according to Labor Department data released Thursday. The figure exceeded all estimates in a Bloomberg survey of economists, which had centered on a consensus of 212,000. Continuing claims, a proxy for the number of people receiving ongoing benefits, also climbed by 25,000 to 1.844 million for the week ended January 24.

Economists noted that heavy snow and freezing temperatures toward the end of January likely prompted temporary layoffs and business disruptions, contributing to the spike. Despite high-profile job cut announcements from firms like Amazon and UPS, overall claims remain low by historical standards, reflecting a “low-hire, low-fire” environment.

Due to the recent partial government shutdown, the official January nonfarm payrolls report—originally due this Friday—has been rescheduled for release next Wednesday.

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3. Hims & Hers Launches $49 Compounded Weight-Loss Pill

Shares of Novo Nordisk A/S fell 7.5% on Thursday following a report that telehealth firm Hims & Hers Health Inc. will begin offering a significantly cheaper version of its new weight-loss pill. According to Reuters, Hims & Hers plans to provide a compounded copycat version of the drug—which uses the same active ingredient, semaglutide—starting at just $49 a month through a subscription-based program.

The move directly challenges Novo Nordisk’s pricing strategy, as the Danish drugmaker sells its brand-name Wegovy pill starting at $149 a month for cash-paying customers. This intensifying competition comes at a vulnerable time for Novo Nordisk, which recently warned of “unprecedented” pricing pressures and a potential revenue decline in 2026. Hims & Hers CEO Andrew Dudum noted that the initiative aims to increase accessibility and provide more choices for the millions of Americans seeking obesity treatments.

Analysts suggest that the availability of low-cost alternatives in the telehealth sector could further erode the market share of premium brand-name GLP-1 medications.

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4. Anthropic Debuts Claude Opus 4.6 for Financial Research

Anthropic unveiled Claude Opus 4.6 on Thursday, a significant upgrade to its flagship model specifically designed to automate complex financial research. The company claims the new model can scrutinize regulatory filings, corporate data, and market information to produce deep financial analyses that would typically take human analysts days to complete. Beyond research, Opus 4.6 features advanced capabilities for native Excel editing, PowerPoint creation, and agentic software development, signaling a major push into mainstream enterprise workflows.

The announcement triggered a sharp decline in the stocks of legacy financial data providers. Shares of FactSet Research Systems tumbled as much as 10%, while S&P Global, Moody’s, and Nasdaq all saw their stock prices slide. Markets are increasingly concerned that Anthropic—currently seeking a $350 billion valuation—is shifting from a model provider to a direct competitor in the high-margin professional services layer.

On the same day, OpenAI countered by updating its Codex coding agent, further streamlining autonomous software engineering and multi-agent task execution.

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5. Winklevoss-Led Gemini Cuts 25% of Workforce

Gemini Space Station Inc., the crypto exchange founded by billionaires Tyler and Cameron Winklevoss, announced on Thursday that it will slash up to 25% of its workforce and wind down operations in the UK, European Union, and Australia. The strategic pullback involves cutting approximately 200 positions globally as the firm moves to reduce operating expenses and pivot toward profitability. According to SEC filings, Gemini expects to substantially complete the restructuring by the first half of 2026, focusing its future efforts solely on the United States and Singapore. The news sent Gemini’s shares tumbling to a record low, marking a nearly 74% decline from its $28 IPO price in September.

In a blog post, the Winklevoss twins admitted that foreign markets had proven difficult to win, citing high organizational complexity and insufficient demand that stretched the firm’s resources too thin. Gemini reported a net loss of $159.5 million for the third quarter of 2025, largely driven by costs associated with its public debut and aggressive marketing. This major retreat coincides with Bitcoin dropping below the $70,000 threshold, deepening the gloom across the digital asset sector.

While scaling back abroad, the firm is doubling down on US-regulated prediction markets and derivatives following the recent closure of its Nifty Gateway NFT platform.

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6. Ares Management Hits Record $622 Billion AUM

Ares Management Corp. shares suffered a sharp decline on Thursday as investor anxiety over AI’s potential to disrupt the software industry outweighed record-breaking asset growth. The alternative asset manager reported that strong inflows in the final quarter pushed its total assets under management (AUM) to a historic $622.5 billion, a 29% increase year-over-year. However, the firm’s after-tax realized income of $1.45 per share missed the consensus analyst estimate of $1.70, triggering a sell-off that saw the stock plunge as much as 10.4% in New York trading—its steepest one-day drop in over seven years.

The broader slump in alternative investment firms stems from fears that artificial intelligence could render many financial and legal software companies obsolete, particularly following recent breakthroughs by AI startups like Anthropic. Addressing these concerns, Ares disclosed in its statement that its exposure to the software sector represents only 6% of total assets and less than 9% of its private credit portfolio. CEO Mike Arougheti told Bloomberg Television that the market’s reaction reflects a “fundamental misunderstanding” of how private capital firms are positioned relative to software disruption.

He highlighted that Ares remains well-capitalized with over $150 billion in dry powder and is strategically expanding into digital infrastructure and real estate to navigate the evolving technological landscape.

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7. KKR Shares Fall 7% on Profit Slide as CEO Defends AI Strategy and 7% Software Exposure

KKR & Co. shares dropped as much as 7% to $97.37 on Thursday after the alternative asset manager reported a decline in fourth-quarter profit and faced intense questioning regarding AI-driven disruption risks. The firm posted adjusted net income of $1.12 per share, missing the analyst consensus of $1.14 and falling from $1.32 in the prior-year period. Despite the earnings miss, KKR capped 2025 with a historic fundraising performance, bringing in $129 billion for the year and pushing total assets under management (AUM) up 16.6% to a record $743.9 billion.

Amid a broader market sell-off triggered by fears that AI could obsolete traditional software firms, Co-CEO Scott Nuttall sought to reassure investors by noting that only about 7% of KKR’s AUM is exposed to the software sector. Nuttall revealed that the firm has proactively managed its portfolio for several years, divesting assets deemed vulnerable to AI advancements before the current panic. “Our level of anxiety is pretty low,” Nuttall stated, emphasizing that KKR’s diversified holdings are well-positioned for the long term.

Looking ahead, executives noted that over $900 million in asset monetizations are currently within reach, following a robust $2.7 billion generated from sales in 2025.

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