Bitcoin falls below $60,000 as AI trade continues to draw investor interest and capital
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Bitcoin BTC $ 61,204.12 dropped below $60,000 on Wednesday for the second time this month, continuing its poor price action in the face of risk market rallies elsewhere.
Key facts
Also continuing to lose ground on Wednesday were gold and oil, each falling below key levels, gold $4,000 per ounce and oil $70 per barrel
Bitcoin BTC $ 61,204.12 dropped below $60,000 on Wednesday for the second time this month, continuing its poor price action in the face of risk market rallies elsewhere
Summary
The crypto bear market continued in force on Wednesday, with bitcoin falling back below $60,000. There were also sharp pullbacks in gold and oil, undermining the 2025 “debasement trade” that had favored hard assets amid worries over government debt and fiat currencies. Tech, particularly the AI boom, continues to draw investor interest and capital. Also continuing to lose ground on Wednesday were gold and oil, each falling below key levels, gold $4,000 per ounce and oil $70 per barrel.