Bitcoin falls to $60,000 as AI trade continues to draw investor interest and capital

Markets Bitcoin falls to $60,000 as AI trade continues to draw investor interest and capital South Korean memory chip giant on Wednesday filed to raise nearly $30 billion in a U.S. offering. By Helene Braun | Edited by Stephen Alpher Jun 24, 2026, 4:01 p.m. 1 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on (Michael M. Santiago/Getty Images) Summary Show The crypto bear market continued in force on Wednesday, with bitcoin falling back to the $60,000 area. There were aslo sharp pullbacks in gold and oil, undermining the 2025 “debasement trade” that had favored hard assets amid worries over government debt and fiat currencies. Tech, particularly the AI boom, continues to draw investor interest and capital. Bitcoin BTC $ 60,436.18 dropped to the $60,000 area on Wednesday for the second time this month, continuing its poor price action in the face of risk market rallies elsewhere. Also continuing to lose ground on Wednesday were gold and oil, each falling below key levels — gold $4,000 per ounce and oil $70 per barrel. Read more: Gold, silver and bitcoin tumble as 'debasement' trade unwinds The declines in crypto, precious metals, and oil came as tech stocks rebounded following Tuesday's modest one-day slump, with the AI trade continuing to draw investor interest and dollars. South Korean memory chip giant SK Hynix on Wednesday filed to raise nearly $30 billion in a U.S. share offering, in what would be the overseas company capital raise since Saudi Aramco's mammoth $26 billion sale in 2019. The Nasdaq at midday Wednesday was up 0.8% against bitcoin's 3.2% slump. Bitcoin has lost the plot Billionaire hedge fund manager Philippe Laffont succinctly summed up investor sentiment Tuesday, telling CNBC he has become "a little bit more worried" about bitcoin's future, arguing that investors now have a wider range of opportunities to choose from than in previous years. "I don't know what to think about Bitcoin anymore," he said, arguing that companies such as SpaceX (SPCX) and emerging AI firms offer growth stories that are easier to evaluate over long time horizons, while the rise of stablecoins has reduced bitcoin's uniqueness as an alternative financial asset. Bitcoin News Breaking News Related Assets Bitcoin $ 60 436,18 3,15 % Latest Crypto News 1 Crypto Long & Short: Infrastructure is the prevailing currency in digital assets 2 minutes ago 2 SecondFi loses $2.4 million in Cardano wallet exploit 16 minutes ago 3 Trump's refusal to sign housing bill could delay Congress and imperil Clarity Act 19 minutes ago 4 Ex-FCA policy insider explains the ‘great divide’ in the UK’s crypto ambition 39 minutes ago 5 Bitcoin just broke below the floor of its famous Rainbow Chart into the ‘BTC is dead’ zone 1 hour ago 6 The banking lobby is wrong about stablecoins and community banks 1 hour ago 7 Gold, silver and bitcoin tumble as 'debasement' trade unwinds 2 hours ago 8 Bitcoin could fall to $55,000 before finding a bottom, 10x Research says 2 hours ago 9 CoinDesk 20 performance update: Aave (AAVE) gains 5.9% as index moves higher 2 hours ago 10 CZ, Binance founder, wants to clear up 'misunderstandings' about who he is 3 hours ago Latest Research CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. By CoinDesk Research Jun 15, 2026 In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. Why it matters : In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. View Full Report More From Markets Bitcoin just broke below the floor of its famous Rainbow Chart into the ‘BTC is dead’ zone Gold, silver and bitcoin tumble as 'debasement' trade unwinds Bitcoin could fall to $55,000 before finding a bottom, 10x Research says More From Bitcoin Crypto Long & Short: Infrastructure is the prevailing currency in digital assets SecondFi loses $2.4 million in Cardano wallet exploit Trump's refusal to sign housing bill could delay Congress and imperil Clarity Act