Bitcoin has continued to weaken even as U.S. stock markets rise, raising questions about its recent co-movement with traditional markets. It failed to break the $78,000 resistance level and fell further. Miner selling and a shift of funds into AI data centres and high-performance computing are cited as factors, along with a large transfer by Trump Media & Technology Group. Delays in U.S. crypto legislation and fading liquidity expectations also weigh.

U.S. President Donald Trump has wide-ranging interests across digital assets, including a personal wallet, the WLFI DeFi platform, memecoins tied to the Trump family name and bitcoin holdings strategies by Trump Media and Technology Group. Data cited in the article point to steep price declines in Trump-linked tokens and scrutiny by the Senate Permanent Subcommittee on Investigations. Critics also raise concerns over token structures, foreign investment and potential conflicts of interest alongside pro-crypto policy moves.