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Bitcoin slips 2% as corporate focus shifts from crypto to AI
Bitcoin trades just above its 50-day moving average, which has stayed nearly flat for three weeks as institutional selling and possible liquidation risk are weighed.
Bitcoin edged lower on Monday, slipping about 2% to roughly $64,200, as corporate attention appears to be moving away from crypto toward AI initiatives, according to Alex Kuptsikevich, chief market analyst at FxPro, citing the market dynamics behind the move.
Kuptsikevich said companies that previously helped add institutional credibility to bitcoin are now chasing AI-related infrastructure, including AI data centers, a shift that he linked to bitcoin losing some of the corporate support it relied on.
He noted that institutional money is also selling bitcoin to build liquidity or rotate into the AI trade, raising the risk that bitcoin position liquidation could accelerate in the coming weeks.
FxPro added that bitcoin is hovering just above its 50-day moving average, which has traded nearly flat for about three weeks, setting up a “standoff” between sellers distributing and buyers absorbing while traders watch whether the level holds.
Latest closeBitcoin $64,308.99 ▲0.6%