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Bitcoin retreats as corporate focus shifts toward AI
Crypto prices slipped over the past day, with BTC down 2% to about $64,000 amid reports that corporations that previously backed crypto are rebalancing toward AI spending.
Over the past 24 hours, the crypto market fell by 2% to around $2.18 trillion, as Bitcoin weakened to roughly $64,000, failing to establish a sustained upward trend, according to Action Forex.
The outlet links some of the pressure to a shift in corporate priorities toward AI, noting that institutional investors appear focused on selling leading cryptocurrencies to build liquidity or move capital into AI-related themes.
Action Forex also cited recent breadth in the market, with the ratio of rising to falling coins at about 1:10 earlier this week. Gainers included Internet Computer (+4.6%), Chainlink (+2.5%), and Cosmos (+1.2%), while laggards among liquid coins were Cardano (-5%), Zcash (-4.2%), and Aave (-4.1%).
In addition, the miner MARA sold 23,093 BTC for about $1.6 billion in the first half of the year, using the proceeds to fund operations, support growth, and manage liquidity. Action Forex also said Strategy sold 1,690 BTC for $108.6 million last week to repurchase STRC preference shares.
Latest closeBitcoin $64,191.91 ▲0.4%