The most well-known and traded cryptocurrency, bitcoin, fell 6% on Wall Street on Tuesday, dropping below the $100,000 mark for the first time since June. At one point during the day, bitcoin's value dropped by as much as 6%, trading at $99,966, although it later recovered some of its losses and was trading at $101,344 at 14:18 local time (19:18 GMT). According to the specialized portal CNBC, today's decline is due to investor concerns about the sustainability of stock valuations, which are being driven by the artificial intelligence (AI) sector. However, some analysts believe that today's drop did not have a clear macroeconomic catalyst. Katie Stockton, founder and managing partner of Fairlead Strategies, noted in a comment picked up by Marketwatch that despite its decline, bitcoin's long-term momentum remains positive. She set a possible long-term price for the cryptocurrency at $134,500 if this bullish trend continues. Meanwhile, the Nasdaq stock index, where many AI-focused companies are listed, fell 1.7% today, with Palantir shares experiencing a sharp drop of 7.9%.
