NYDIG says bitcoin slide driven by AI, tech IPOs, quantum fears and Strategy sale

Bitcoin’s drop below $60,000 to a fresh cycle low reflects multiple overlapping headwinds rather than a single catalyst, according to CoinDesk, citing a report by NYDIG global head of research Greg Cipolaro. He pointed to capital rotating into AI, cash-raising ahead of potential tech IPOs such as SpaceX, OpenAI and Anthropic, renewed quantum-computing security concerns, Treasury Secretary Scott Bessent’s claim that U.S. authorities seized roughly $1 billion of Iranian-linked crypto assets, and Strategy’s sale of 32 BTC ($2.5 million at the time). Cipolaro said onchain metrics suggest a major bottom may be nearing.