Wintermute: AI trading cooling dragged down market correction Bitcoin tested key support levels

The latest report released by Wintermute shows that the cooling of artificial intelligence transactions triggered a switch in market styles. The Nasdaq index fell for the fifth consecutive trading day, with a single-day drop of 4.5%. The semiconductor sector was under significant pressure; Bitcoin fell 5.9%, falling below 60,000 US dollars to approximately US$59,300, and Ethereum fell 7.9%. The U.S. personal consumption expenditure price index (PCE) rose to 4.1% year-on-year in May, strengthening expectations that high interest rates will remain for a longer period of time. The strengthening of the U.S. dollar also put pressure on crypto assets.