Bitcoin hits two-week low amid tech sell-off

Bitcoin retreated to its lowest level in nearly two weeks at around $61,877, influenced by a sell-off in technology stocks that heightened concerns over the large spending of AI companies. Other cryptocurrencies such as Ethereum, Solana, and XRP also declined. This downturn reflects the impact of the decline in tech shares on the digital currency market, with Bitcoin reaching its lowest point since June 11 and trading around $62,400 in London this morning. Additionally, Bitcoin funds in the U.S. have experienced outflows totaling $2.4 billion since the beginning of June, amid a downturn in American market indices.

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