Crypto Markets Today: BTC Price Slips, XPL, ENA Slide as AI Spending Concerns Hit U.S. Equities
Crypto prices fell as the CD20 index dropped 1.7% due to tech giants' increased AI spending projections causing concern in U.S. equities.Summary
Cryptocurrency prices declined over the past 24 hours, with the CoinDesk 20 Index (CD20) losing 1.7% as all its members fell. This downturn was triggered by a sell-off in U.S. equities after Meta and Microsoft raised their Artificial Intelligence investment projections, sparking overspending concerns among investors. Bitcoin (BTC) saw a minor drop of 0.2% to just under $110,000, while Ether (ETH) fell 1.3%. Many altcoins, including doublezero, plasma (XPL), gate token, and ENA, slumped significantly, though privacy coin Zcash (ZEC) gained 5% on the day. Derivatives markets show mixed signals; Bitcoin futures are consolidating with little change in funding rates, but options suggest a near-term shift toward neutral-to-bearish sentiment, evidenced by put volume overtaking call volume. Overall liquidations totaled $879 million in 24 hours, heavily favoring long positions. The outlook for altcoins hinges on Ether maintaining its support level around $3,700.
(Source：CoinDesk)