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The Economic Times
The Economic Times
Business

Bitcoin's star fades, as investors flock to lustre of AI and megacap IPOs

Bitcoin United States Semiconductor CoinGecko ETF Crypto LSEG

Bitcoin is heading for its worst performance for this point in the year in at least a decade, as booming AI stocks and ​a series of glittering upcoming new listings such as SpaceX ​lure away capital from the world's largest cryptocurrency.

Its price has tumbled around 15% this week, the most since November 2022, ​when trading platform FTX imploded. At around $63,000, bitcoin has lost a third in value so far in 2026, more at this point in the year than at any time since at least 2015, LSEG data shows.

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