Woofun AI reports that Bitcoin declined 5.4% intraday, briefly falling below $60,000 to reach its lowest level since October 2024. This movement followed a sell-off in large-cap tech stocks, as traders anticipate US Federal Reserve interest rate hikes to combat inflation. High rates are suppressing risk appetite, leading investors to reassess overvalued assets.

Bitcoin and Solana have decreased by 32% and 47% respectively this year, failing to recover despite stock market rebounds. Retail demand for cryptocurrency has shifted toward AI-related stocks, while major IPOs like SpaceX's listing on Nasdaq dominate market focus.

Additionally, the "Clarity Act" remains stalled in the Senate due to banking industry opposition and lack of bipartisan support.