Bitcoin Price Drops Below $80,000 Amid AI Selling Pressure
On Monday, Bitcoin fell below the $80,000 mark amid artificial intelligence-driven market selloffs and capital outflows from US spot Bitcoin ETFs.
Bitcoin fell below the $80,000 threshold alongside developments in artificial intelligence trading, as investors focused on tech giants' earnings reports and the US Federal Reserve's upcoming decision.
On Monday, Bitcoin, the largest digital asset, dropped by as much as 1.4% to below $79,280. Alongside this decline, smaller tokens such as Ether, XRP, and Solana also lost value. The market movement followed investors withdrawing $772.4 million from US-listed spot Bitcoin exchange-traded funds (ETFs) on Thursday and Friday. This represented a sharp reversal after net inflows exceeded $1 billion earlier in the week.
Sources
- bloomberg.com · Link