Bitcoin hits 6-month low as AI fears add to risk-off mood: How are pro traders positioned?

Andrew Tate's recent $794,000 bet on Bitcoin has resulted in his liquidation for the 84th time on the Hyperliquid exchange, highlighting ongoing volatility in the cryptocurrency market. This incident underscores the risks associated with high-stakes trading in a fluctuating environment.

Bitcoin's price surged back above $87,000 following Amazon's announcement of a $50 billion investment in AI infrastructure, positively impacting crypto miners focused on AI and high-performance computing.

JPMorgan Chase & Co. has faced significant criticism from the cryptocurrency sector after it closed accounts associated with crypto firms and issued a research note warning about the risks of strategies employed by bitcoin treasury companies. This move has heightened tensions within the industry, as stakeholders express concerns over the bank's stance on cryptocurrency.

Spot bitcoin ETFs have experienced significant outflows totaling $3.55 billion in November, alongside a decline in stablecoin supply, indicating a potential capital flight from the cryptocurrency market, as reported by NYDIG.