Alex Kuptsikevich of FxPro said in an email that bitcoin has gained momentum since Monday, when buyers stepped in during the dip toward $62,500 and pushed price back above the 50-day moving average. Optimism is centred more on bitcoin than on the wider market, he said, which is typical of the early stages of a long-term shift.
The equity backdrop turned less helpful. The MSCI All Country World Index snapped a five-day run to fall 0.2% as chipmakers retreated on both sides of the Pacific. Korea’s Kospi, a bellwether for the AI trade, dropped 4.4% with SK Hynix and Samsung leading losses.
S&P 500 and European futures edged higher.
Meanwhile, Gold rose 0.4% to its strongest since June as traders trimmed rate-hike expectations, with Brent under $80 a barrel after Iran said it had reached an agreement with Oman on a shipping route through the Strait of Hormuz.
SoftBank reports later Thursday. It has put $34.6 billion into OpenAI through…
