Crypto Markets Tumble as AI Stocks Lure Investors Away

Crypto markets took a hit this week as investors favored stocks tied to the artificial-intelligence boom. Major cryptocurrencies fell, with dogecoin and Hyperliquid's HYPE leading the losses, each down about 10 percent.

Bitcoin was relatively resilient, slipping only 5.3 percent to around $60,345 on Saturday. However, it did dip to near $58,800 on Friday before rebounding amid signs of margin liquidations and aggressive dip-buying.

Alex Kuptsikevich, FxPro chief market analyst, noted that this pattern resembles margin position liquidations during downtrend spikes, followed by strong buying on pending orders during the recovery.