Bitcoin Declines as Renewed AI Fears Weigh on U.S. Equities

Deep News16:31

Bitcoin extended its losses after hitting a two-and-a-half-week low, following an overnight decline in U.S. stock markets driven by renewed concerns over artificial intelligence (AI) disruptions. These concerns were partly fueled by a report from Citrini Research, which warned of potential economic impacts from AI, including rising unemployment. Additionally, worries about a possible U.S. strike on Iran and uncertainty surrounding U.S. trade policy further dampened risk appetite. A 10% U.S. tariff has already taken effect after the Supreme Court overturned most of the tariffs imposed by former U.S. President Trump. According to data from the London Stock Exchange Group, Bitcoin fell 2.3% to $63,083, after hitting a low of $62,734. Ethereum mirrored Bitcoin's trend, declining 2.1% to $1,824, after reaching a two-and-a-half-week low of $1,813 overnight.

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