Bitcoin falls further as BTC miners pivot to AI, pro-crypto legislation stalls

Bitcoin’s underperformance of stocks deepens as BTC miners pivot to AI and pro-crypto regulation in the United States stalled.

Key takeaways:

Bitcoin’s (BTC) rejection at $78,000 on Thursday marked a decoupling from traditional markets after two months of strong correlation. Wednesday’s decline below $75,000 happened while the tech-heavy Nasdaq 100 Index jumped to an all-time high.

The factors behind Bitcoin’s underperformance are unlikely to fade in the near term, reducing the odds of a bullish breakout above $82,000.

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