Bitcoin trades at lowest value since early 2024, as investors bet on high-profile IPOs, AI-related stocks

BTC's drop to its lowest level since late 2024 reflects a hawkish Federal Reserve, exchange-traded fund outflows and a shift of capital into AI, the bank said.

Bitcoin slipped to around $62,600, extending losses amid a broader selloff in AI and technology stocks that triggered risk-off sentiment. ETF outflows, weak liquidity and a…