Bitcoin sank to $69,000 this week, its lowest point since April 7. The drop followed Michael Saylor's announcement that his company would sell cryptocurrency holdings. While most coins faltered, AI tokens H and NEAR rose sharply as DeFi's total value locked reached a 20-month low.
Saylor's Bitcoin Sale
Michael Saylor's firm confirmed it would sell part of its Bitcoin reserves. That announcement hit the market immediately. Bitcoin hasn't traded this low since early April. The price slid $5,000 in just two days. It wasn't a massive sale but spooked traders.
AI Tokens Defy Market Downturn
AI tokens H and NEAR surged while everything else fell. They were the only bright spots in a weak week. The broader crypto market dropped over 10% but those tokens climbed. No specific news explained their rise. It happened during the Bitcoin slide from Saylor's move.
DeFi Sector Slumps
Total value locked across DeFi platforms fell to its lowest level in twenty months. That's the weakest since before last year's bull run. The drop shows users pulling money from decentralized protocols. It confirms the market's shift away from yield-focused projects.
Markets are watching whether the AI token strength holds as Bitcoin stabilizes around $70,000. The reason behind their surge remains unexplained. No major catalysts are expected before Friday's options expiry. Traders want clarity on why H and NEAR moved opposite the market.
