Bitcoin Soars Past $64,000 as Most Majors Stall

Bitcoin has broken above $64,000 and is currently the only major cryptocurrency showing a notable daily gain. Most other large tokens have slipped or remained flat.

Analysts point out that despite this surge, Bitcoin remains stuck between $62,000 and $65,000, below key moving averages. This leaves sellers in control of medium- and long-term trends, according to Alex Kuptsikevich, chief market analyst at FxPro.

Meanwhile, publicly listed bitcoin miners have cut their combined computing power by 21% over the past three quarters as they shift capacity to AI infrastructure, according to Miner Weekly. This move is attributed to weak mining economics and competition from the AI sector for both capital and electricity.