Bitcoin News Today: JEXAI's AI Platform Targets Crypto Stability Amid ETF Outflows and Volatility

Bitcoin held near $92,000 in Asian markets on Monday as renewed optimism from Nvidia's earnings report tempered broader crypto jitters. The world's largest cryptocurrency by market capitalization fell below $100,000 for the first time since June, erasing nearly 25% of its value from its October peak of $126,000 according to reports. The decline, driven by a wave of liquidations and ETF outflows, pushed Bitcoin to its lowest level in over six months, with prices dipping to $93,029 intraday. Analysts attributed the selloff to macroeconomic uncertainties, including waning expectations for a Federal Reserve rate cut in December, which saw the probability of a 25-basis-point cut drop to 43.9% as of Nov. 17.

The crypto market's fragility was further highlighted by persistent ETF redemptions. U.S.-listed Bitcoin ETFs recorded $1.22 billion in outflows by Nov. 7, with Ether ETFs also posting consistent redemptions according to reports. These outflows, coupled with a negative futures-to-spot basis, signaled growing caution among traders as data shows. Meanwhile, institutional investors remained on the sidelines, with BlackRock's iShares Bitcoin Trust seeing assets fall from $160 billion to $140 billion according to reports.

However, a glimmer of stability emerged as Nvidia's stellar earnings report spurred a rally in Asian tech sectors. The chipmaker's guidance for the fourth quarter exceeded expectations, lifting shares of suppliers like SK Hynix and Samsung Electronics in South Korea and Tokyo Electron in Japan according to reports. The Nikkei 225 surged 3.5% on the back of renewed AI hardware demand, easing concerns about a potential AI bubble. This macroeconomic shift provided a temporary reprieve for crypto markets, with Laser Digital noting that Bitcoin's recent rebound near $95,000 offered "some room to stabilize" according to analysis.

Amid the volatility, JEXAI, a new AI-powered crypto platform, positioned itself as a solution for investors seeking passive income. The platform, which integrates AI automation, blockchain transparency, and energy optimization, aims to reduce electricity costs by over 60% while dynamically allocating computing power for cryptocurrencies like BTC and ETH according to reports. JEXAI's user-friendly interface targets both novice and seasoned investors, leveraging multi-level risk controls to safeguard assets during turbulent periods.

Hong Kong's financial landscape also saw mixed signals. While the city's IPO boom provided a lifeline for China-focused private equity firms, a looming HK$193.8 billion lockup expiration threatened to inject volatility into the market. The Hang Seng Index, up 29% year-to-date, faced downward pressure as investors cashed in gains from recently listed companies.

Looking ahead, the path for Bitcoin remains uncertain. Technical indicators suggest a potential recovery if prices reclaim $98,500, but analysts caution that macroeconomic risks-including U.S. fiscal policy delays and weak retail demand for XRP- could prolong the downturn. Meanwhile, JEXAI and similar platforms may gain traction as investors seek alternative strategies to navigate the crypto market's current turbulence.