In recent days, Bitcoin came close to surpassing its previous record of $73,737 before trading sideways and eventually dipping. Over the past 24 hours, the cryptocurrency fell 2.8% to $70,300. This dip coincides with a sell-off in equities, as tech companies Meta and Microsoft announced increased spending to meet the growing demand for artificial intelligence. Bitcoin and the broader crypto market have been closely linked to the performance of tech and large market cap equities this year. Ethereum and Dogecoin also experienced declines, with Ethereum down 5.3% to $2,500 and Dogecoin down 4.4% to $0.16. The drop in prices also coincided with a tightening race for the White House, with Kamala Harris slightly ahead of Donald Trump according to a poll. JP Morgan analysts suggested that Bitcoin would experience upward momentum if Trump wins the election.



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