Bitcoin recovers toward $64,000 after AI model shock and crypto bill doubts

Digital FinancePrice Action
โดย Investing.com·Read original
Summary · why it matters

Bitcoin recovered toward $64,000 on Saturday after sliding alongside semiconductor and technology stocks, as a new Chinese artificial intelligence model and fading expectations for US crypto legislation pressured risk appetite. Bitcoin was trading at $64,107.7 as of 11:10 ET, up about 1.1% from its previous close after moving between $62,505 and $64,287. Friday's decline followed the release of Kimi K3 by Beijing-based Moonshot AI, an open-weight model that outperformed Anthropic's Claude Fable 5 and OpenAI's GPT-5.6 on a frontend coding benchmark, scoring 1,679 compared with 1,631 and 1,618 respectively. The model has 2.8 trillion parameters and uses a mixture-of-experts design, with full weights scheduled for public release on July 27, unsettling technology valuations by challenging assumptions that leading AI capabilities will remain scarce and expensive. Regulatory uncertainty added another headwind, as Polymarket traders lowered the probability of the CLARITY Act becoming law by December 31 to a record-low 32%, down from a February peak of 82%, with Senate negotiations stalled over ethics provisions. Separately, Ripple committed $250,000 in RLUSD-funded grants to 25 veteran- and military spouse-owned businesses, each receiving $10,000. Most altcoins were higher amid thin Saturday trading, with Ether up 0.8%, XRP up 0.5%, and Dogecoin up 0.3%, while $TRUMP surged 5%.

Impact on stocks 0

Off-coverage companies 4

Moonshot AI (北京月之暗面科技有限公司)Private▲ Positive
Technologyrelevance

Moonshot AI's Kimi K3 model outperforms leading competitors on a benchmark, showcasing technological advancement.

AnthropicPrivate▼ Negative
Competitionrelevance

Kimi K3 outperforms Anthropic's Claude Fable 5 on a coding benchmark, threatening Anthropic's competitive position.

OpenAIPrivate▼ Negative
Competitionrelevance

Kimi K3 outperforms OpenAI's GPT-5.6 on a coding benchmark, threatening OpenAI's competitive position.

Ripple Labs Inc.Private± Mixed
Capitalrelevance

Ripple committed $250,000 in RLUSD-funded grants to veteran- and military spouse-owned businesses; minor positive but not material to core business.

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