AI equities recovered before Bitcoin, drawing dip buyers away from crypto and raising doubts about BTC’s store-of-value role, Ignas said.
Some investors had treated the $58,000 mark as a potential cycle low. Ignas said fewer voices in crypto are offering bullish reassurance than during past Bitcoin selloffs.
Ignas also cited stablecoin outflows and the potential removal of Strategy from MSCI indexes as sources of concern. Some altcoins have fared better, while Bitcoin’s weakness continues to pressure the wider crypto market.
