Bitcoin down 13% after 13-day ETF outflows and AI-semiconductor interest
Business
Bitcoin is down about 13% this week, marking its biggest drop since February.
What's behind the slide? Investors are pulling money out of Bitcoin ETFs at record rates for 13 days in a row, which has shrunk total assets from $107.8 billion to $82.8 billion.
Plus, excitement around AI and semiconductor stocks is drawing attention (and cash) away from crypto.
Investors question Bitcoin as safe haven
It's not just Bitcoin taking a hit: people are starting to question whether Bitcoin can really act as a safe haven during market uncertainty or inflation anymore.