Bitcoin plunges to near $62,000 as the AI trade unwinds, HYPE falls 14% - CoinDesk
ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailBitcoin plunges to near $62,000 as the AI trade unwinds, HYPE falls 14%Broadcom's disappointing AI chip outlook pulled the Nasdaq lower for a third session, dragged Asian equities down with it, and took crypto along for the ride.By Shaurya Malwa Jun 5, 2026, 6:08 a.m. 2 min readMake preferred on What to know: Bitcoin and major cryptocurrencies extended steep weekly losses as the broader artificial-intelligence trade that has driven global risk assets since 2026 faltered.The sell-off was led by equity and currency markets, with semiconductor stocks, Asian indexes and several regional currencies sliding in a broad risk-off shift.Persistent outflows from U.S.