Major Companies' AI Shift Causes 2% Decline in Bitcoin Price

Bitcoin's price dropped by 2% to around $64,200 due to a shift in focus from major companies that have been supporting cryptocurrency towards artificial intelligence (AI). This change has led institutional investors to sell Bitcoin and free up liquidity or invest in AI-related trades.

The move by firms like Strategy and miners such as MARA, which have rebranded around AI, reduces corporate enthusiasm for Bitcoin. This reduction in support could potentially accelerate liquidations in the coming weeks.

Bitcoin's current price is hovering just above its 50-day moving average, indicating a balance between sellers and buyers. The future direction of the price will depend on whether this support holds.