BTC falls to $64,200 amid institutional selling as companies pivot from crypto to artificial intelligence investments.
Bitcoin declined 2% to $64,200 on Monday, pressured by corporations reallocating capital from crypto to AI. The broader digital asset market dropped 2% to $2.18 trillion, with most coins retreating as institutional enthusiasm wanes.
Corporate adopters, including miners like MARA, had previously rebranded around crypto but are now prioritizing AI data centers. Analysts note institutional money is rotating out of BTC to fund AI initiatives, raising concerns over accelerating liquidation in the coming weeks.
BTC remains just above its 50-day moving average, which has traded flat for three weeks. The level is seen as a key test for whether buyers can absorb selling pressure.