Bitcoin price fails to regain $77,000 momentum, artificial intelligence currency surges 25%

Although U.S. stock indexes, led by the S&P 500, continue to hit record highs, Bitcoin prices have failed to resume their gains above $77,000 and the market has entered a slowdown.

Bitcoin is currently trading just below $77,000, down 0.6% in the past 24 hours and remaining almost steady all week.

The currency has traded within a narrow range between $76,500 and $77,000 over the past few hours, indicating declining buying momentum and continued market expectations.

Bitcoin price remains below the 200-day moving average near the $80,000 level, reflecting continued selling pressure and the failure of buyers to regain control after the recent rejection at the $82,000 area.

In contrast, the $74-75K area appears to be an important support zone as previous demand levels intersected with the 100-day moving average.

Meanwhile, traditional markets saw significant gains as oil prices fell to around $90 a barrel as geopolitical tensions persisted due to the conflict between the United States, Israel and Iran.

In terms of alternative currencies, mainstream currencies such as ETH, BNB, XRP, and SOL mostly maintained a narrow range of fluctuations and did not experience significant increases or decreases.

But the artificial intelligence-related currency sector performed strongly, with Worldcoin (WLD) linked to OpenAI founder Sam Altman rising more than 25% in a day, bringing its weekly gain to about 60%.

Other AI-related currencies, such as Render and FET, also recorded gains of more than 16%, given the interest returns on AI infrastructure-related projects.

Analysts believe the moves may reflect investors’ penchant for bets related to the artificial intelligence industry, especially after investment funds tied to the sector have experienced rapid growth in recent weeks.

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