Bitcoin's slide has no single cause. AI, tech IPOs, quantum, Strategy sale all play a role, NYDIG says

MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailBitcoin's slide has no single cause. AI, tech IPOs, quantum, Strategy sale all play a role, NYDIG saysNot one, but several overlapping headwinds are hitting the crypto market at once, weighing on bitcoin's price, the firm's head of research Greg Cipolaro said.By Krisztian Sandor|Edited by Nikhilesh De Jun 7, 2026, 4:00 p.m. 3 min readMake preferred on What to know: Bitcoin's weakness stems from multiple converging headwinds rather than a single catalyst, NYDIG's Greg Cipolaro said in a report.AI momentum, high-profile tech IPOs, quantum and security fears, sanctions on Iranian crypto exchanges and Strategy's BTC sale all played a role in the selloff, he said. Onchain metrics point at a major bottom nearing, but the drawdown has remained modest compared to previous bear markets.Bitcoin BTC$61,977.27 dropping below $60,000 to a fresh cycle low has left investors searching for a culprit. According to Greg Cipolaro, global head of research at NYDIG, there probably isn't only one.In a report last week, he argued that bitcoin and the broader crypto market is facing several overlapping headwinds that have been weighing on prices.The AI trade sits near the top of his list as bitcoin is increasingly competing for capital with a sector that has become the market's dominant growth story.The overlap between AI and crypto investors is larger than many assume, he argued. Both attract investors seeking exposure to emerging technologies and outsized returns. As AI-related stocks continue to outperform, capital followed and rotated from crypto, he wrote.Investors are also preparing for what could be the largest tech IPO cycle in years. Companies such as SpaceX, OpenAI, Anthropic are widely expected to eventually go public, with SpaceX already deep into the process of making its debut. Large IPOs often prompt institutions to raise cash and reduce existing positions ahead of new offerings, creating a poten…

Bitcoin's slide has no single cause. AI, tech IPOs, quantum, Strategy sale all play a role, NYDIG says

Coins in this story

Related stories

Bitcoin near $60,000 today vs February: Institutional sentiment has flipped

Michael Saylor revives bitcoin-buy speculation as scrutiny over Strategy grows

Bitcoin, ether eye worst weekly rout since FTX collapse as cryptos shed $390 billion