Crypto: Bitcoin loses momentum as AI steals the spotlight

The cryptocurrency market is experiencing a prolonged period of weakness, marked by a third consecutive week of decline for Bitcoin. The sector’s benchmark asset fell nearly 5% this week, returning to around 73,000 dollars after already losing 6.8% over the previous two weeks. This trend reflects a notable shift in Bitcoin’s behavior, which now resembles that of gold more than that of technology stocks. Historically, Bitcoin tended to move in tandem with major tech names, but the current wave of enthusiasm surrounding artificial intelligence has diverted both attention and capital flows. Investors today appear more attracted to the growth prospects of AI than to Bitcoin’s technical attributes.