Bitcoin Reclaims $64K as Mining Industry Shifts Towards AI

Bitcoin has regained its footing above $64,000 and stands as the only major cryptocurrency to post a notable gain. According to FxPro's chief market analyst Alex Kuptsikevich, Bitcoin remains below its 50-day and 200-week moving averages, indicating that sellers are still in control over the medium- to long-term trend.

Kuptsikevich notes that it will take a break out of the $62,000-to-$65,000 range for a clear shift in direction to be expected. In contrast, Hyperliquid's HYPE token has shown relative strength, rising 1% from the day before and 7.5% over the past week.

The mining industry is also undergoing significant changes as some miners are redeploying their equipment to artificial intelligence infrastructure due to weakening profitability and increased competition with AI for capital and power.