AI Spending
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Bitcoin plunges below $84,000 with crypto market sell-off
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Bitcoin dropped over 6% on Thursday to around $84,000, dragging down other major cryptocurrencies amid fears over heavy AI spending by tech giants. The sell-off coincided with declines in tech stocks following Microsoft's earnings report, while the Federal Reserve held interest rates steady. Liquidations of leveraged positions exceeded $650 million, mostly from bullish bets.