UPDATE: Bitcoin falls to $79,700 as capital shifts to AI deals
CIE News ·
Update to UPDATE: Bitcoin drops under $80,000 as US Middle East evacuations reported
Based on reporting by CoinDesk; not yet independently confirmed.
Bitcoin dropped further to $79,700 as capital rotated toward AI-focused companies, extending a weekend slump previously linked to Middle East tensions.
Bitcoin (BTC) dropped further to $79,700, according to CoinDesk, extending a weekend slump that initially saw the asset slip below $80,000. As previously reported, Bitcoin first fell beneath the threshold following reports of U.S. government evacuations in the Middle East, but the latest decline coincides with a broader market shift of capital into artificial intelligence ventures.
CoinDesk reported that roughly $200 billion in capital is being directed toward the AI sector, driven by Meta's $95 billion share sale and an Anthropic initial public offering filing that could reach $100 billion. The redirection of funds has added downward pressure to crypto markets following a 2.4% weekly decline for BTC reported earlier by Decrypt.
Key facts
- BTC dropped to $79,700
- Capital shifting to AI sector
- Meta $95B share sale
- Anthropic files up to $100B IPO