Bitcoin continues to test investors' nerves. While the price of the leading cryptocurrency slides toward local lows in the $62,400–$63,600 area, testing the important 200-week moving average, a powerful countertrend move is forming in the derivatives market.
Ripple partner SBI Holdings-backed JPYSC is closing in on a potential market debut this week. The project is now in the final days of its targeted second quarter launch period.
BlackRock's global head of digital assets, Robbie Mitchnick, said the artificial intelligence boom has become so dominant that it is pulling capital away from Bitcoin, gold, and other alternative assets. However, he believes increasing the U.S. debt burden could soon bring investors back to Bitcoin.