Bitcoin slips to $63,900 amid oil and Chinese AI shock
Business
Bitcoin slipped 1.3% to about $63,900 on Monday, thanks to rising oil prices and the Chinese AI shock, which triggered a selloff in Asian chip stocks.
Even with this dip, Bitcoin is still up 2% for the week.
Other big cryptocurrencies also took a hit: Ethereum dropped 1.1%, Dogecoin lost 1.4%, and Hyperliquid's HYPE fell hardest, down 8% this week.
Brent tops $91, Kospi down 3.5%
Brent crude oil jumped past $91 a barrel, the highest in a month, as tensions in the Middle East grew, reviving inflation worries.
Asian semiconductor stocks kept sliding after last week's AI-related selloff; South Korea's Kospi index plunged 3.5%.
Meanwhile, US futures hint at a possible rebound despite all the global market drama.