Bitcoin fell 2% to about $64,200 on Monday, with CoinDesk citing FxPro chief market analyst Alex Kuptsikevich as saying the move was driven less by any single catalyst than by a shift in corporate attention away from bitcoin and toward AI.
Broader market also moved lower
The wider crypto market declined 2% to $2.18 trillion. Roughly ten tokens fell for every one that rose, pointing to broad weakness across the market rather than a drop limited to BTC alone.
Companies once backing bitcoin are pivoting to AI
Kuptsikevich said the companies making that pivot are the same ones that once gave crypto a degree of institutional cover. He pointed to holders led by Strategy and miners such as MARA, which have spent the past two years reshaping their identity around AI data centers.
In his view, institutional money is now selling bitcoin to build liquidity or rotate into that trade. With corporate enthusiasm fading, he said the risk is that BTC position liquidations could speed up over the coming weeks.
What the pullback means for market structure
Kuptsikevich said corporations entered crypto partly because it flattered their image, which he contrasted with the stock market, where retail investors usually arrive later and absorb the losses.
As those companies leave, he argued, they are handing crypto back to the retail base that built it. That would return bitcoin to what he described as its ideological roots, even if the exit is painful in the short term.
50-day moving average is the near-term line to watch
Bitcoin is currently sitting just above its 50-day moving average. That line has traded nearly flat for three weeks, reflecting a standoff between sellers distributing and buyers absorbing supply. Whether that level holds is the immediate technical point to watch.