Bitcoin volatile, but flat, while crypto stocks bounce amid cooling AI fears
Bitcoin traded flat with high volatility, while crypto stocks like COIN and RIOT gained as AI sector concerns eased.Summary
Bitcoin (BTC) experienced significant volatility on Wednesday, swinging between dips below $67,000 and brief rallies above $68,300, ultimately remaining flat. Ether (ETH) followed a similar pattern, dropping about 1% in 24 hours. This mixed crypto action occurred against crosscurrents in traditional markets: relief was seen as concerns over artificial intelligence disruption in the tech sector cooled, with the software ETF (IGV) bouncing 1.9%. However, geopolitical jitters increased, evidenced by rising odds of U.S. strikes against Iran, which boosted gold, silver, and oil prices. Despite BTC's choppy performance, crypto-related equities saw a rebound, with Coinbase (COIN), Circle (CRCL), and Galaxy (GLXY) rising 3%-5%, while miners and AI-linked plays like Riot Platforms (RIOT) and IREN (IREN) posted stronger gains of 5.5%. Separately, Goldman Sachs CEO David Solomon noted he owns very little Bitcoin but is closely watching it, emphasizing that tokenization will be central to future finance, though regulation remains a concern.
(Source：CoinDesk)