Bitcoin Updates: Bitcoin Entangled Amid Government Shutdown and AI Migration Turmoil
- Bitcoin's decline correlates with U.S. government shutdown delays and AI sector capital shifts, as frozen federal spending and SoftBank's $5.8B Nvidia exit amplify market volatility. - Nvidia faces AI supply chain bottlenecks despite strong Blackwell demand, while SoftBank's OpenAI pivot and $14B GDP drag from shutdown deepen uncertainty for crypto and tech markets. - Bitcoin's on-chain metrics show risk-off behavior with rising exchange reserves and record stablecoin outflows, as delayed economic data c
Bitcoin Drops Again: Is AI or the Government Shutdown to Blame?
On-chain data for Bitcoin is signaling caution as the U.S. government shutdown stretches into its second month, fueling debate over whether the cryptocurrency's recent slide is due to economic instability or AI-driven market shifts. Experts highlight several overlapping causes: halted federal spending, interruptions in economic reporting, and changing investment flows in the artificial intelligence industry. The $14 billion GDP hit from the shutdown, along with SoftBank Group Corp.'s $5.8 billion sale of
Nvidia, a key player in AI hardware, is still struggling with supply shortages despite strong demand for its Blackwell platform. CEO Jensen Huang recently pointed out that ongoing wafer supply issues with TSMC and HBM memory constraints are major obstacles, even as Nvidia acquires land in Taiwan for a new headquarters to strengthen its supply chain, as
At the same time, Bitcoin's price is caught between concerns about the economy and optimism around AI. Exchange reserves, a key blockchain metric, have climbed for six consecutive weeks, indicating a more cautious approach as traders move BTC onto exchanges in anticipation of possible profit-taking, as the
The shutdown's disruption of economic data releases has made the outlook even murkier. Federal Reserve officials, including Governor Lisa Cook, have noted that delays in labor and GDP data are making policy decisions more difficult, as
Investor strategies are evolving as well. Billionaire Stanley Druckenmiller, once heavily invested in AI companies like Nvidia and Palantir, has shifted focus to healthcare, increasing his stakes in Eli Lilly and Viking Therapeutics, as
Looking forward, Nvidia's Q3 earnings in November could be a turning point. Wall Street is projecting $54 billion in revenue and an adjusted EPS of $1.25, but Finbold analysts see only a 30% chance of the stock reaching $250 per share, which would require an exceptional earnings report, as
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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