Bitcoin fell back to $79,750 about two hours before the U.S. stock market open, down 0.6% over the past 24 hours, while ether and solana posted similar declines. XRP moved the other way, gaining 1% after Ripple received final approval to launch its own U.S. national trust bank. Over the past week, bitcoin has lost 2.5%, even as interest rates and expectations for Federal Reserve rate hikes have eased and oil has given back part of its earlier monthly advance. Stocks, by contrast, have strengthened, with the Nasdaq rising more than 1% in the previous session and futures up another 0.4% ahead of the open. Investor attention has also shifted back toward artificial intelligence. In the last 24 hours, Meta announced a $95 billion capital raise, while Anthropic filed for an IPO and was reported to be targeting as much as $100 billion. Together, that points to nearly $200 billion in capital being directed toward AI rather than crypto. Markets are now looking to the Federal Reserve’s two-day policy meeting, which concludes Wednesday, with expectations centered on no change in rates.
About two hours before the U.S. stock market open, bitcoin (BTC) slipped back to $79,750, down 0.6% over the past 24 hours. Ether (ETH) and solana (SOL) were down by similar amounts, while XRP rose 1% after Ripple received final approval to launch its own U.S. national trust bank.
On a weekly basis, bitcoin is now down 2.5%. The move has come even as interest rates and expectations for Federal Reserve rate hikes have pulled back, and oil has reversed part of the larger gains seen earlier this month.
Equities have moved higher instead. The Nasdaq gained more than 1% in the previous session, and futures were up another 0.4% ahead of the open.
The AI trade appears to have regained investor attention, at least for now, and is drawing in capital. In the past 24 hours, Meta announced a $95 billion capital raise. Anthropic also filed for an IPO, and reports said the company could seek to raise as much as $100 billion. That puts the amount being committed to AI at nearly $200 billion, rather than crypto.
Markets are now looking ahead to the Federal Reserve’s two-day policy meeting, which concludes on Wednesday. Current expectations are that the U.S. central bank will leave rates unchanged.
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