CoinDesk diagnosed that as SK Hynix's market capitalization surpassed $1 trillion, memory chip-related stocks monopolized market capital and attention, intensifying downward pressure on Bitcoin. The media explained, "Yesterday, Micron Technology's stock price surged by 21% to surpass a market cap of $1 trillion, and today, SK Hynix joined the $1 trillion club. Memory-related stocks, which are a pillar of the AI boom, are attracting the interest and capital of the cryptocurrency market. As a result, the cryptocurrency market, including Bitcoin, is still enveloped in a negative atmosphere." In this regard, James Check (Checkmate), former lead analyst at Glassnode, added, "No one is interested in Bitcoin right now. Investor sentiment towards Bitcoin has completely bottomed out, and the bears, who have been quiet for a long time, are showing confidence."
