Bitcoin falls, AI worries sentiment depresses morale

Bitcoin edged slightly lower as concerns about potential disruptions caused by artificial intelligence continue to linger, with investors hesitant to push the cryptocurrency significantly higher. Jefferies economist Mohit Kumar noted in a report, "The dominant theme in the market remains AI disruptions, with investors taking a cautious stance on any industry that could potentially face AI challenges." He mentioned that software, financial intermediaries, real estate investment trusts, legal, and logistics industries have all felt the impact of concerns over AI disruptions. However, analysts at Sheng Bao stated that the trend in the cryptocurrency market indicates "consolidation rather than panic." The US stock market was closed on Monday for Presidents' Day, reducing catalysts that could boost risk appetite and weakening liquidity. According to data from the London Stock Exchange Group, Bitcoin fell by 0.3% to $68,688.