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AI boom drains interest from Bitcoin, causing a 28.9% drop in 2026 so far

Market News
23 Jun 2026
Finbold
View Source
Bearish
pluang ai news

Robbie Mitchnick of BlackRock highlights that the surge in AI stocks has diverted investor attention and capital away from Bitcoin, leading to a nearly 29% decline in Bitcoin's price year-to-date in 2026. This trend has also impacted gold and precious metals, as AI-centric assets like Intel and AMD outperform. Despite this, BlackRock sees potential upside for Bitcoin due to rising U.S. debt and deficits, and institutional interest remains strong with several Bitcoin-related products offered by the firm.

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