Bitcoin fell 4.5% over the week, while Ethereum dropped 6% amid a sell-off in US tech stocks. Following the Democrats' victory in the midterm congressional elections, investors began assessing risks to the AI industry—ranging from potential restrictions on data center construction to rising debt levels for companies investing billions of dollars in artificial intelligence infrastructure.
A sharp drop in the Nasdaq intensified pressure on the crypto market, with approximately $1.3 billion flowing out of spot Bitcoin ETFs over the course of a week. Meanwhile, Binance users continued to buy shares of technology companies, channeling $503 million into this sector. Why do political shifts in the US and the debt obligations of AI giants affect Bitcoin, and can the cryptocurrency recover from the sell-off?
All this is covered in the Binance Research analytical report, published exclusively by LIGA.net.
