Bitcoin is up more than 1% to near $77,773 this morning while AI-related stocks are selling off sharply — the clearest market split of the year. Anthropic CEO Dario Amodei called for the industry to slow AI development over the weekend, Altman and Musk agreed, and the selloff has taken CoreWeave and Nebius down 5–6% in pre-market. Brent crude hit $107 a barrel. Gold is lower. Crypto is higher. Separately, Trump agreed to about 80% of the Democratic ethics package required to advance the Clarity Act — the Senate cloture vote is tomorrow. Clarity Act odds on Polymarket climbed from 12% to 30% in two weeks. This week also brings the Fed rate decision Wednesday. Stay alert.
CoinDesk Disclosure: The information contained in this newsletter, and any information linked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. You should seek additional information regarding the merits and risks of investing in any cryptocurrency or digital assets.
L1.co Disclosure: This material is for informational purposes only, and the content contained herein should not be considered investment advice or a solicitation, offer, or recommendation to sell or buy any asset, strategy, or product. Investing in digital assets involves a high degree of risk, including the loss of principal.
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Crypto outperforms as the call to slow AI development hammers tech stocks.
Anthropic CEO Dario Amodei called for the AI industry to slow down over the weekend to let safety catch up, and both Sam Altman and Elon Musk agreed. The reaction in equities was immediate: Nebius and CoreWeave fell 6% and 5% in pre-market; SK Hynix dropped 6% in Seoul; the QQQ fell 1.5%. Bitcoin and ether each gained more than 1%, breaking from tech in the sharpest crypto-vs-AI divergence of the year. Brent crude climbed above $107 — adding to macro pressure on risk assets — while 10-year Treasury yields held just below 5% and gold fell almost 1%. Clarity Act odds on Polymarket rose from 12% to 30% over the past two weeks, with the Senate cloture vote on Tuesday acting as a further crypto-specific tailwind.
Trump agreed to stricter ethics rules. The Clarity Act vote is tomorrow.
President Trump agreed to about 80% of the ethics concession package that holdout Democrats and Senator Thom Tillis had demanded before supporting the Digital Asset Market Clarity Act, according to AP. The revised agreement requires elected officials, their spouses and federal judges to divest or place in blind trusts any significant interest in a crypto-issuing entity — going beyond the original bill’s narrower restriction on federally elected officials issuing digital assets. State attorneys general also gain new powers to enforce the law and sue exchanges listing prohibited assets. The Senate cloture vote is Tuesday. White House crypto adviser Patrick Witt said Sunday: “After more than a year’s worth of negotiations, it’s time to pass this bipartisan bill.”
Bitcoin bucks the tech selloff as AI safety concerns weigh on stocks.
Bitcoin gained about 1% to trade near $77,800 while technology stocks fell sharply in pre-market trading, with the QQQ down 1.5% and neocloud providers Nebius and CoreWeave losing 5–6%. Brent crude topped $107 — its highest level since 2022 — while WTI traded above $103. Gold fell almost 1% to around $4,300. The 30-year Treasury yield held at 5.355%, and 10-year yields sat just below 5%. The divergence is notable: bitcoin rising alongside oil, while AI infrastructure stocks and precious metals both fell, suggests the market is treating crypto as a distinct asset class rather than a proxy for either risk-on tech or inflation hedging. Longer-dated Treasury yields edging lower — despite oil surging — may reflect expectations that an AI slowdown reduces long-run inflation from data center energy demand.
CoinDesk Disclosure: The information contained in this newsletter, and any information linked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. You should seek additional information regarding the merits and risks of investing in any cryptocurrency or digital assets.
L1.co Disclosure: This material is for informational purposes only, and the content contained herein should not be considered investment advice or a solicitation, offer, or recommendation to sell or buy any asset, strategy, or product. Investing in digital assets involves a high degree of risk, including the loss of principal.
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