Bitcoin back above $60,000, ETH, SOL recoup losses as AI stocks stage rebound
Bitcoin and other major cryptocurrencies saw a slight recovery after a mid-week dip, while AI-related stocks like Micron surged following strong earnings reports. Analysts warn that Bitcoin's proximity to its 200-week moving average could signal a prolonged period of market weakness.
Why it matters
The correlation between AI stock performance and crypto volatility highlights how macroeconomic factors and investor sentiment toward emerging tech sectors are currently driving global financial markets.
Bitcoin fell to about $59,200 late Wednesday before buyers pulled it back to around $60,700 on Thursday, down 2.9% over 24 hours and 5.4% on the week, per CoinDesk data.
The report relies on market data and analyst commentary to explain price movements without taking a stance on the assets themselves.
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