Bitcoin price falls below $70K for first time as AI tokens surge

Bitcoin price has fallen below $70,000 for the first time since April as the institutional investors and retailers run for cover due to uncertainty driven by the US-Iran conflict.

Given the drastic decline of bitcoin, it is no wrong to say that this is the largest cryptocurrency drop to its lowest point since April 7, 2026.

This sharp decline has intensified since Sunday, marked by a streak where seven of the last eight four-hour candles closed in the red, resulting in a loss of over 2 percent since midnight UTC.

The slump was further exacerbated by the Strategy’s move of selling $2.5 million worth of the bitcoin tokens.

According to the reports, falling below threshold have triggered over $760 million in liquidation across crypto markets in the last 24 hours.

While Ether continues to trade below the $2,000 threshold, slipping approximately 1.7 percent since midnight UTC, other segments of the crypto market are moving against the expectations.

On the other hand, the artificial intelligence sector remains a significant bright spot, fuelled by growing investor optimism.

Humanity Protocol (H) has stolen the spotlight today by surging 18 percent today and extending its impressive rally to 278 percent since May 28.

Talking about the AI based tokens, the Humanity Protocol and Near Protocol appreciated by 8 percent and 14.5 percent respectively.

The CoinMarketCap 'Altcoin Season' index has risen from 38 to 45 since Monday, signalling growing momentum for altcoins as they begin to decouple from Bitcoin.