🍒What's up with crypto? | 📅August 11

➖$BTC below $64,000. For several months, it hasn’t been able to break through $65–66k
➖$ETH around $1,880
➖$XRP fell to $1.01

🔻Overall, the market lost about 2% of its value over the day
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🚩In the market: fear
The Fear and Greed Index is 29–30 points. Most investors are afraid to buy right now and more often sell their assets

🚩Why is everything falling, and what does AI have to do with it?
Big companies that used to invest only in BTC are now shifting their focus to AI (artificial intelligence)

For example, the large mining company Riot Platforms signed an agreement worth $9.1 billion to provide its compute power for AI development.
Some firms are even stopping Bitcoin mining altogether because they want to build infrastructure for AI. Because of this, capital “flows” from crypto into another trendy area, which puts pressure on the BTC price

🔷BlackRock becomes more accessible
The world’s largest investment company lowered the “entry ticket” for exchanging BTC in its fund (ETF) — from $25 million to $1 million. This will attract more professional mid-level investors
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So, the market is currently in a waiting mode. Big players have been distracted by artificial intelligence, while smaller ones are waiting for news from the US

#market #crypto