Why are AI tokens rallying and Bitcoin crashes?
The crypto market is in turmoil as aggressive selling continues across the board, triggering liquidations and leaving investors counting losses. Bitcoin (BTC) tumbled below the $70,000 mark on Thursday, after erasing the post United States (US) election surge.
In stark contrast to the extensive sell-off, some Artificial Intelligence (AI) crypto tokens, including AWE Network (AWE) and OlaXBT (AIO), are defying headwinds and extending their uptrends.
Crypto liquidations hit $1 billion
Bitcoin’s slump below $70,000 has dragged the majority of crypto assets down with it, as leveraged positions are liquidated, exceeding $1 billion over 24 hours.
Long position traders bore the biggest brunt of the correction, with approximately $896 million…
