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Bitcoin (CRYPTO: BTC) dropped back below $63,000 on Thursday as the broader crypto market shed 4%.
Why Is Crypto Falling While AI Stocks Hit New Highs?
The divergence between crypto and AI-linked equities is widening sharply.
Cipher Digital (NASDAQ:CIFR) hit new all-time highs up 10%, WhiteFiber (NASDAQ:WYFI) surged 15%, TerraWulf (NASDAQ:WULF) added 4%, Galaxy Digital (NASDAQ:GLXY) gained 4%, and IREN (NASDAQ:IREN) rose 3%.
Moreover, Kevin Warsh’s FOMC decision Wednesday is adding pressure. Warsh held rates but provided no forward guidance, leaving markets pricing only a 15% chance rates stay flat through December.
Nine committee members already project a rate hike before year-end. The 2-year Treasury yield heading higher repeats the pattern seen before …
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