Bitcoin Pressured by Companies' Shift to AI
Bitcoin's price has slipped below $64,000 as companies that once championed it turn their attention to AI. Alex Kuptsikevich, chief market analyst at FxPro, notes that these corporations are now chasing AI data centers, leaving BTC sitting above its flat 50-day moving average.
The US Strategic Petroleum Reserve has fallen to a 40-year low of around 300 million barrels, according to Bloomberg analyst Lisa Abramowicz. This decline is partly due to the ongoing US-Iran war and uncertainty surrounding the Strait of Hormuz.
Riot Platforms' $9.1 billion deal with Anthropic has led to a surge in AI miners, with Riot itself up 8%, Cipher Mining gaining 11%, TeraWulf rising 8%, and Galaxy Digital increasing 5%. However, this trend is also putting pressure on Bitcoin's price.
Anthropic will begin watermarking AI-generated content, including text and files produced by its Claude models, to meet the EU AI Act's Code of Practice on transparency. This move aims to increase transparency in AI-generated content, particularly in the European Union.