⛽ The bounce is running low on fuel

CoinDesk··4 min read
Crypto/Web3Finance
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AI Summary

Bitcoin bounced Monday to $67,283 but faces headwinds from ETF outflows snapping a 4-week inflow streak and potential downside to $49K according to analyst Peter Brandt. The crypto market showed mixed signals with ETH and SOL up over 3% while Bitcoin miners are losing $19K per coin and pivoting $70B into AI infrastructure.

Key Facts

Bitcoin bounced to $67,283 Monday but ETF outflows of $296M snapped a 4-week inflow streak with analyst Peter Brandt warning of potential $49K drop
Bitcoin miners are losing $19K per coin with average production cost of $79,995 while pivoting over $70B into AI contracts for revenue diversification
FTX Recovery Trust distributes $2.2B to creditors Tuesday as potential market catalyst while Brent crude hits $115/barrel on expanded Iran conflict

Author Takes

BearishCoinDesk Daybook

Bitcoin price action

The bounce is running low on fuel with weak demand side and potential $49K downside

Contrarian Angle

Bitcoin Miners Pivoting to AI Revenue

Public bitcoin miners signing over $70B in AI and HPC contracts, with some deriving up to 70% of revenue from AI by end-2026

Abandoning core bitcoin mining business for AI infrastructure due to $19K per coin losses

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⛽ The bounce is running low on fuel — CoinDesk | subtl