Bitcoin dips below $60K as AI rally redraws crypto demand after Trump win

Bitcoin fell below $60,000 for the first time since October 2024, sliding as much as 7% to about $59,100 in New York trading, as investors pull from BTC-linked ETFs amid a shift in risk appetite toward AI stocks and higher yields following Trump’s reelection; Ether and other major tokens also declined, underscoring a broader rotation away from non-yielding assets and ongoing questions about crypto demand and treasury strategies like Michael Saylor’s Strategy Inc.