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Bitcoin Update: Volatility Spikes as AI Fears Weigh In
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Today's Bitcoin price hovered at $66,189 after a 1.5% drop, mirroring broader market turmoil as AI concerns crushed tech stocks and precious metals like gold fell 3%. Barron's reports Bitcoin down 24% YTD, with analysts predicting further downside before a rally. Yet, fundamentals remain strong: Bitcoin's hashrate rebound could lift production costs back to $90,000, per JPMorgan, providing natural support. Chainalysis notes rising illicit flows, but this highlights BTC's global utility. Meaningfully, sovereign adoption growsâBhutan's recent 100 BTC transfer shows nations using it for liquidity. For investors, this dip emphasizes Bitcoin's role in portfolio diversification amid economic uncertainty. Past cycles saw 98% resets leading to 4,800% gains; stay focused on the long game. Spot opportunities on Binance!
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