AI mania is helping cap crypto's upside, Wintermute says: Crypto Daybook Americas
Wintermute suggests AI investment mania is suppressing crypto's potential upside by absorbing available capital.Summary
The Crypto Daybook Americas for February 10, 2026, reports that Bitcoin slipped below $70,000, stabilizing after a recent drop to $60,000 that wiped out post-election gains. Trading firm Wintermute attributes the crypto market's underperformance, both during rallies and amplified selling, primarily to the rotation of capital into Artificial Intelligence (AI) investments. Wintermute noted that removing AI companies from the Nasdaq 100 index nearly eliminates crypto's negative skew, suggesting that crypto needs the AI trade to cool down to outperform again. Furthermore, institutional flows via ETFs show hesitation, with low net inflows, indicating that these flows are currently dictating market direction over retail attention.
(Source：CoinDesk)