Crypto Biz: Is the AI-to-crypto rotation underway?
Crypto markets gained momentum as US spot Bitcoin ETFs posted a six-day inflow streak, taking in about $930 million and signaling renewed institutional demand. Bitcoin briefly rose above $67,000, while sentiment improved from “extreme fear” to “fear.” The broader backdrop also turned more constructive for crypto. US progress on the CLARITY Act improved regulatory optimism, and fading enthusiasm for AI stocks suggested capital may be rotating away from the AI trade. The Philadelphia Semiconductor Index recently fell into a technical bear market, reinforcing the idea that investors are becoming more selective about AI exposure. Bitcoin mining stocks rallied after Hut 8 and IREN announced major AI infrastructure deals, showing miners are increasingly using data centers and cloud services to diversify revenue beyond Bitcoin. Separately, Bernstein raised its outlook on Robinhood, arguing that future growth will come more from tokenized assets and prediction markets than from traditional crypto trading.
