Bitcoin Rises to 78280 as AI Slowdown Concerns Hit Chip Stocks

Bitcoin climbed to 78280, up nearly 2% since midnight UTC, as concerns over an AI slowdown impacted chip stocks. Nvidia fell 3%, Intel dropped over 5%, and AMD sank about 6% on Monday following calls from industry leaders for a deliberate slowdown in AI advancements. Anthropic CEO Dario Amodei emphasized the need for pacing in a recent essay, which was echoed by OpenAI's Sam Altman and xAI's Elon Musk. The Philadelphia Semiconductor Index declined nearly 6%. In contrast, Ethereum rose 2.1% to around 2514, and XRP gained 3.3%. The total crypto market capitalization increased by about 1.5%. Bitcoin's recent movements reflect a pattern where rate-hike concerns lead to declines, but any signs of relief prompt a rebound. Progress on U.S. crypto legislation, particularly the Clarity Act, has also boosted sentiment, with the odds of its passage in 2026 rising to 31% after President Trump agreed to updated provisions. A Senate cloture vote is scheduled for Tuesday, with Clarity Act supporters needing close to nine Democratic votes to reach the required 60.

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