Crypto prices kept their downtrend going on Saturday, with Bitcoin hitting $59,163, its lowest level since 2024, per the Benzinga report cited by NewsData.io. The same source puts Bitcoin about 52% below its all-time high.
The broader market didn’t cushion the move. Crypto market capitalization has reportedly dropped from more than $4 trillion to about $2.1 trillion.
Where the money appears to be going
Benzinga’s piece, as summarized by NewsData.io, pins the ongoing selloff less on crypto-specific headlines and more on a shift in investor attention toward artificial intelligence. The report points to strength in traditional tech tied to AI, noting that stocks such as SanDisk, Micron, Intel, and Seagate have surged to record highs.
ETF flows are part of the same story, according to Benzinga. The Roundhill Memory ETF (DRAM) reportedly set a record and has added more than $15 billion in assets under management, described by the source as the fastest-growing ETF ever. The report also cites space-themed ETFs such as UFO and NASA gaining assets ahead of the SpaceX IPO.
In other words, the market’s “why now” looks external. If investors decide they want AI and space exposure instead of crypto beta, liquidity for riskier trades thins out.