Bitcoin Holds Above $63,000 as AI Infrastructure Favorites Decline

Bitcoin is holding above $63,000 as markets react to the decline of AI infrastructure favorites. The Nasdaq fell 1.4% in morning U.S. trade Tuesday, with companies like Micron, Intel, AMD, Applied Materials, SanDisk, and KLA Corp. down by 9-12%. This has put pressure on crypto prices, causing Bitcoin to dip below $63,000 from its overnight high above $64,000.

However, Bitcoin is still up 1.2% over the past 24 hours, while Ether is higher by 1% and XRP has turned negative by 1% over that time frame.

Vanguard's job ad suggests a potential shift in its crypto strategy, signaling that it may be leaning into digital assets after years of hostility towards them. The company is hiring a head of digital assets to lead its crypto strategy, develop the digital asset roadmap, and oversee initiatives such as tokenization, stablecoins, custody, and blockchain infrastructure.

The new hire could signal a change in Vanguard's stance on crypto, which only began allowing customers to trade crypto ETFs and mutual funds in December last year. The company had previously stated it had no plans to launch its own crypto products.