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Bitcoin declines amid AI hype
Bitcoin has experienced a significant decline from its peak of $126,000 last fall to just above $60,000, erasing over $1.2 trillion in market value over eight months. Since reaching a record high, the cryptocurrency has faced increased selling pressure, decoupling from initial rally expectations during Donald Trump’s presidency and recent geopolitical tensions. Investor focus has shifted toward artificial intelligence investments and IPOs, while regulatory clarity from the pending CLARITY Act could influence future crypto valuations. Despite some recent rebounds, bitcoin remains well below its recent highs, with broader market factors and liquidations contributing to its ongoing slump.
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