Bitcoin and Ethereum Hold Gains Amid AI Stock Decline

Amid a global tech sector downturn triggered by calls to slow AI development, Bitcoin (BTC) and Ethereum (ETH) maintained gains, outperforming other assets.

On April 14 (KST), Bitcoin traded at $77,900, up over 1.53% in the past 24 hours on Binance USDT market. Ethereum also rose 1.53% to $2,500.

Global markets saw selling pressure across AI-related stocks following CEO statements from Dario Amodei of Anthropic and Sam Altman of OpenAI, who urged caution on advanced AI development amid safety concerns. Elon Musk also supported this stance.

Investor worries about slower semiconductor demand and computing infrastructure expansion due to potential AI development slowdowns led to declines in stocks like CoreWeave (-6%), CipherDigital (-6%), Marah Holdings (-5%), and Iren (-4%) ahead of U.S. market open.

The virtual asset rally appears influenced by expectations around the U.S. 'CLARITY Act,' which aims to establish a federal regulatory framework for the crypto market. Predictive markets show the probability of the CLARITY Act being codified by 2026 has risen to approximately 30%, up from 12% earlier this month.

The U.S. Senate is set to hold a procedural vote on the bill on April 15, with market participants viewing the outcome as a key factor for continued relative strength in crypto assets amid broader risk asset pressures including high oil prices and potential U.S. interest rate hikes.