Bitcoin faces the risk of sliding to $60,000 as market volatility mounts, triggered by a wave of profit-taking in AI-linked investments after Broadcom's lower-than-expected AI chip sales outlook. The sell-off has rippled through the crypto market, with Zcash among the tokens seeing reduced bullish investor support.
Why Bitcoin is under pressure
The largest cryptocurrency is losing ground as broader market jitters take hold. Traders are eyeing the $60,000 level as a potential floor — and one that could break if selling pressure continues. The current volatility follows a stretch of relatively calm trading, making the sudden shift more jarring for holders.
Broadcom's outlook sparks profit-taking
This week, profit-taking in AI-related investments accelerated after Broadcom issued a lower-than-expected outlook for AI chip sales. The news hit both traditional equities and crypto tokens linked to artificial intelligence. That sell-off helped drag down major coins, including Bitcoin, as investors rotated out of risk assets.
Zcash loses its bullish edge
Zcash, the privacy-focused token, is showing signs of weakening sentiment. Bullish investor support has waned in recent days, leaving ZEC more exposed to the broader downturn. The token had seen a modest rally earlier this year, but that momentum has faded amid the current market turbulence.
For traders, the next few days will tell if Bitcoin holds above $60,000 or if the AI-led rout deepens. No major catalysts are on the calendar this week, leaving price action at the mercy of macro sentiment and further profit-taking.
