Why bitcoin is falling: AI, tech IPOs, quantum and Strategy sale

Bitcoin slid below $60,000 to a fresh cycle low, and NYDIG’s global head of research, Greg Cipolaro, says the decline reflects several overlapping headwinds rather than a single cause. He points to a mix of forces that together have pressured prices even as onchain activity and adoption trends show no clear deterioration.

Cipolaro highlights the rise of the AI trade as a major competitor for capital, with AI-related stocks outperforming and drawing investors who otherwise might target crypto. He also notes that a potential wave of large tech IPOs — including SpaceX, OpenAI and Anthropic — can prompt institutions to raise cash and reduce existing positions ahead of new offerings, creating another drag on demand for bitcoin.

Industry-specific worries add to the pressure. A claim by Treasury Secretary Scott Bessent that U.S.

United States

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